Innergex announces the start of operation of the 49.9 MW Kwoiek Creek hydro facility

 Innergex announces the start of operation of the 49.9 MW Kwoiek Creek hydro  facility            --  Contribution to the Corporation's annual revenues of             approximately $18.0 million         --  Partnership with the Kanaka Bar Indian Band         --  Electricity to power more than 20,000 British Columbia             households each year  LONGUEUIL, QC, Feb. 18, 2014 /CNW Telbec/ - Innergex Renewable Energy Inc.  (TSX: INE) ("Innergex" or the "Corporation") announces that the Kwoiek Creek  Resources Limited Partnership has begun operation of the Kwoiek Creek  run-of-river hydroelectric facility located in British Columbia, Canada.  Innergex holds 50% of Kwoiek Creek Resources Limited Partnership, and is  responsible for the management of the construction and the operation of the  facility. The Kanaka Bar Indian Band holds the remaining 50% interest.  "We are very pleased to have realized this project in partnership with the  Kanaka Bar Indian Band. Kwoiek Creek represents yet another project developed  in the best interests of the host community, our partners and our investors",  declares Mr. Michel Letellier, President and Chief Executive Officer of the  Corporation. "We look forward to building more projects in partnership with  First Nations and local municipalities in the future", adds Mr. Letellier.  "The production of electricity at the Kwoiek Creek facility marks the  culmination of many years of hard work and dedication by our communities and  our partner Innergex. We are very proud of this accomplishment, which provides  our local residents and all of British Columbia with clean energy and  long-term benefits", states Chief James Frank of the Kanaka Bar Indian Band.  The 49.9 MW Kwoiek Creek hydroelectric facility is located partly on Crown  lands and partly on reserve lands, approximately 14 km south of Lytton,  British Columbia. Construction began in 2011 and was completed in early  December 2013, on time and on budget. While commissioning of the facility  began at that time, the Corporation and BC Hydro have amended their agreement  to clarify stipulated production levels, subject to approval by the British  Columbia Utilities Commission. Once the approval is received, BC Hydro will  accept the COD Certificate with an effective commissioning date of January 1,  2014 for the Kwoiek Creek facility.  Kwoiek Creek's average annual production is estimated to reach 223,400 MWh,  enough to power more than 20,000 BC households. In its first full year of  operation, it is expected to generate revenues and Adjusted EBITDA of  approximately $18.0 million and $15.0 million respectively. All of the  electricity it produces is covered by a 40-year fixed-price power purchase  agreement with BC Hydro, which was obtained under the 2006 Call for Tenders  for clean energy and which provides for an annual adjustment to the selling  price based on a portion of the Consumer Price Index.  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 31 operating facilities with an aggregate net installed capacity  of 654 MW (gross 1,146 MW), including 24 hydroelectric operating facilities,  six wind farms, and one solar photovoltaic farm; (ii) interests in six  projects under development or under construction with an aggregate net  installed capacity of 227 MW (gross 338 MW), for which power purchase  agreements have been secured; and (iii) prospective projects with an aggregate  net capacity totaling 2,900 MW (gross 3,125 MW). Innergex Renewable Energy  Inc. is rated BBB- by S&P and BB (high) by DBRS (unsolicited rating).  The Corporation's strategy for building shareholder value is to develop or  acquire high-quality facilities that generate sustainable cash flows and  provide a high return on invested capital, and to distribute a stable dividend.  Non-IFRS Measures Disclaimer  Investors are cautioned that Adjusted EBITDA is not a measure recognized by  IFRS and has no meaning prescribed by it, and therefore may not be comparable  to those presented by other issuers. Innergex believes that this indicator is  important, as it provides management and the reader with additional  information about its cash generation capabilities and facilitates the  comparison of results over different periods. References to "Adjusted EBITDA"  are to revenues less operating expenses, general and administrative expenses  and prospective project expenses. Investors are cautioned that this non-IFRS  measure should not be construed as an alternative to net earnings as  determined in accordance with IFRS.  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.  The forward-looking information includes forward-looking financial information  or financial outlook, within the meaning of securities laws, such as the  estimated electricity production, revenues and Adjusted EBITDA to inform  investors of the potential financial impact of the Kwoiek Creek hydroelectric  facility 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 performance of facility, as well as  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, changes in hydrology, variability of project performance  and related penalties, equipment failure, 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 www.sedar.com. 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 legislation.    SOURCE  Innergex Renewable Energy Inc.  Marie-Josée Privyk, CFA, SIPC Director - Investor Relations 450928-2550,  ext. 222 mjprivyk@innergex.com www.innergex.com  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/February2014/18/c5198.html  CO: Innergex Renewable Energy Inc. ST: British Columbia NI: UTI