M&A Deal Summary

Innergex Renewable Energy Acquires Alterra Power

On October 30, 2017, Innergex Renewable Energy acquired renewable energy company Alterra Power for 1.1B USD

Acquisition Highlights
  • This is Innergex Renewable Energy’s 2nd transaction in the Renewable Energy sector.
  • This is Innergex Renewable Energy’s largest (disclosed) transaction.
  • This is Innergex Renewable Energy’s 2nd transaction in Canada.
  • This is Innergex Renewable Energy’s 2nd transaction in British Columbia.

M&A Deal Summary
Date 2017-10-30
Target Alterra Power
Sector Renewable Energy
Buyer(s) Innergex Renewable Energy
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) National Bank Financial
Marathon Capital LLC (Financial)
Borden Ladner Gervais (Legal)

Target

Alterra Power

Vancouver, British Columbia, Canada
website
Alterra Power Corp. is a global renewable energy company, operating six power plants totaling 568 MW of generation capacity, including British Columbia's largest run-of-river hydro facility and largest wind farm, two geothermal facilities in Iceland, and a geothermal plant in Nevada. Alterra owns a 262 MW share of this capacity, generating approximately 1,300 GWh of clean power annually.

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Buyer(S) 1

Buyer

Innergex Renewable Energy

Longueuil, Quebec, Canada

website

Category Company
Founded 1990
Sector Renewable Energy
Employees488
Revenue 870M CAD (2022)
DESCRIPTION

Innergex Renewable Energy 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, Canada, France and Idaho, U.S. Its portfolio of assets currently consists of: (i) interests in 52 operating facilities with an aggregate net installed capacity of 1,078 MW (gross 1,781 MW), including 31 hydroelectric facilities, 20 wind farms and one solar farm; (ii) interests in two projects under construction with a net installed capacity of 46 MW (gross 66 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totalling 3,560 MW (gross 3,940 MW). Innergex Renewable Energy was founded in 1990 and is based in Longueuil, Canada.

DEAL STATS #
Overall 2 of 5
Sector (Renewable Energy) 2 of 5
Type (Add-on Acquisition) 2 of 4
State (British Columbia) 2 of 2
Country (Canada) 2 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-15 The Walden North Hydroelectric Project

Lillooet, British Columbia, Canada

The Walden North Hydroelectric project is a 16 MW facility located on private land in Cayoosh Creek near Lillooet, in British Columbia. It is a run-of-river hydro plant diverting flow from the Cayoosh Creek through a 250 m power tunnel and 100 m penstock, to five Litostroj horizontal Francis turbines. The facility was commissioned and has been in operation since 1992.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-15 Energia Llaima

Santiago, Chile

Energia Llaima innovates the energy generation industry by designing and operating low and medium-scale hydraulic and solar thermal plants. Energia Llaima is based in Santiago, Chile.

Buy -
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