Innergex begins commercial operation of the 17.5 MW Northwest Stave River hydro facility

Innergex begins commercial operation of the 17.5 MW Northwest Stave River 
hydro facility 


        --  Contribution to the Corporation's annual revenues of
            approximately $7.0 million
        --  Electricity to power more than 5,500 British Columbia
            households each year

LONGUEUIL, QC, Feb. 24, 2014 /CNW Telbec/ - Innergex Renewable Energy Inc. 
(TSX: INE) ("Innergex" or the "Corporation") has begun commercial operation of 
the 17.5 MW Northwest Stave River run-of-river hydroelectric facility located 
in British Columbia, Canada.

"We are pleased to have commissioned our 25(th) hydroelectric facility, 
reinforcing our leadership position among independent power producers in 
British Columbia. This project was realized thanks to the support and 
collaboration of the Douglas and Kwantlen First Nations, with whom we enjoy 
solid relations", states Michel Letellier, President and Chief Executive 
Officer of the Corporation. "Today we are seeing additional benefits of the 
Cloudworks acquisition completed in 2011", adds Mr. Letellier.

The 17.5 MW Northwest Stave River hydroelectric facility is located on Crown 
land, approximately 50 km north of Mission, British Columbia. Construction 
began in 2011 and was completed in early December 2013, on time and on budget. 
Commissioning of the facility began at that time and the COD certificate has 
now been approved by BC Hydro with an effective commissioning date of December 
18, 2013.

Northwest Stave's average annual production is estimated to reach 63,300 MWh, 
enough to power more than 5,500 BC households. In its first full year of 
operation, it is expected to generate revenues and Adjusted EBITDA of 
approximately $7.0 million and $6.0 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 that province's 2008 Clean 
Power Call Request for Proposals 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 and 
British Columbia and in Idaho, USA. Its portfolio of assets currently consists 
of: (i) interests in 32 operating facilities with an aggregate net installed 
capacity of 672 MW (gross 1,164 MW), including 25 hydroelectric operating 
facilities, six wind farms, and one solar photovoltaic farm; (ii) interests in 
five projects under development or under construction with an aggregate net 
installed capacity of 210 MW (gross 321 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 operating 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, operating revenues and Adjusted EBITDA to 
inform investors of the potential financial impact of the Northwest Stave 
River 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 the 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/February2014/24/c6814.html 
CO: Innergex Renewable Energy Inc.
ST: British Columbia
NI: UTI NP  
-0- Feb/24/2014 22:14 GMT
 
 
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