Innergex completes the acquisition of two operating hydro facilities in BC

Innergex completes the acquisition of two operating hydro facilities in BC 
LONGUEUIL, QC, Oct. 12, 2012 /CNW Telbec/ - Innergex Renewable Energy Inc. 
(TSX:INE) ("Innergex" or the "Corporation") has completed the previously 
announced acquisition of the Brown Lake and Miller Creek run-of-river 
hydroelectric facilities located in British Columbia, Canada. 
Summary of assets acquired 
Brown Lake is a 7.2 MW facility commissioned in 1996 and located on Crown land 
near Prince Rupert in the North Coast region of the province. It has an 
average annual production of 51,800 MWh, all of which is sold to BC Hydro 
under a 20-year power purchase agreement that expires in 2016. The Corporation 
also announced its intention to double the plant's installed capacity to 
14.4MW and increase expected average annual production by 27,000MWh, for 
an additional investment of approximately $20.0 million. Innergex President 
and Chief Executive Officer Michel Letellier adds that "we look forward to 
undertaking the expansion of the Brown Lake facility in consultation with the 
local and First Nation communities". 
Miller Creek is a 33 MW facility commissioned in 2003 and located on Crown 
land near Pemberton, in the Lower Mainland region of the province, in close 
proximity to several other of the Corporation's hydroelectric facilities. It 
has an average annual production of 97,900MWh, all of which is sold to BC 
Hydro under a 20-year power purchase agreement that expires in 2023, with BC 
Hydro holding two consecutive five-year renewal options. The Corporation also 
announced that it plans to undertake an $8.5 million capital expenditure 
program to upgrade the penstock and water intake, which should increase the 
plant's expected average annual production by 4,895 MWh and reduce operating 
costs. However, this capital expenditure program, which was initially expected 
to occur in the fall of 2012, has been postponed to the fall of 2013, given 
the longer-than-expected closing process and seasonal constraints. 
The final purchase price of $68.6million and associated transaction costs of 
this acquisition were financed by a combination of drawdowns on the 
Corporation's revolving term credit facility and a portion of the proceeds 
from a private placement of common shares completed in July 2012 (see the 
press release dated July 26, 2012). 
Forward-Looking Information Disclaimer 
This press release contains forward-looking information within the meaning of 
securities legislation. All information and statements other than statements 
of historical facts contained in this press release are forward-looking 
information. Such statements and information may be identified by looking for 
words such as "about", "approximately", "may", "believes", "expects", "will", 
"intend", "should", "plan", "predict", "potential", "project", "anticipate", 
"estimate", "continue" or similar words or the negative thereof or other 
comparable terminology. Such forward-looking information includes, without 
limitation, statements with respect to the benefits which may accrue to 
Innergex and its shareholders as a result of the acquisition, power 
generation, growth prospects, power purchase agreement renewal, business 
strategy and plans and objectives of or involving Innergex. 
The forward-looking information includes forward-looking financial information 
or financial outlook, such as future investments, to inform investors of the 
potential financial impact of the acquisition on the Corporation's results. 
Such information may not be appropriate for other purposes. 
The forward-looking information is based on certain key expectations and 
assumptions made by Innergex as of the date of this press release, including 
expectations and assumptions concerning the availability of capital resources 
and performance of operating facilities, estimates, forecasts and opinions of 
the Corporation. Although Innergex believes that the expectations and 
assumptions on which such forward-looking information is based are reasonable, 
undue reliance should not be placed on the forward-looking information since 
no assurance can be given that they will prove to be correct. Actual results 
could differ materially from those currently anticipated due to a number of 
factors and risks. These include, but are not limited to, potential 
undisclosed liabilities associated with the acquisition, failure to realize 
the benefits of the acquisition (including cost synergies and operational 
efficiencies), energy generation, mid-C spot price fluctuations, power 
purchase agreement renewal, possibility to secure the proposed expansions of 
the facilities, equipment failure, performance of third-party suppliers and 
other risks generally attributable to the business of Innergex. For 
additional information with respect to risks and uncertainties, refer to the 
Annual Information Form of Innergex filed on SEDAR's website at 
The forward-looking information contained herein is made as of the date of 
this press release and the Corporation does not undertake any obligation to 
update or revise any forward-looking information, whether as a result of 
events or circumstances occurring after the date hereof, unless required by 
About Innergex Renewable Energy Inc. 
Innergex Renewable Energy Inc. (TSX: INE) is a leading Canadian independent 
renewable power producer. Active since 1990, the Company develops, owns, and 
operates run-of-river hydroelectric facilities, wind farms, and solar 
photovoltaic farms and carries out its operations in Quebec, Ontario, British 
Columbia, and Idaho, USA. Its portfolio of assets currently consists of: (i) 
interests in 28 operating facilities with an aggregate net installed capacity 
of 534MW (gross 920MW), including 22 hydroelectric operating facilities, 
five wind farms, and one solar photovoltaic farm; (ii) interests in 9 projects 
under development or under construction with an aggregate net installed 
capacity of 231MW (gross 374MW), for which power purchase agreements have 
been secured; and (iii) prospective projects with an aggregate net capacity 
totaling 2,904 MW (gross 3,127MW). Innergex Renewable Energy Inc. is rated 
BBB- by S&P and BBB (low) by DBRS. 
The Corporation's strategy for building shareholder value is to develop or 
acquire high-quality facilities generating sustainable cash flows and 
providing a high return on invested capital, and to distribute a stable 
Marie-Josée Privyk, CFA Director - Investor Relations 450-928-2550, ext. 222 
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ST: Quebec
-0- Oct/12/2012 20:39 GMT
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