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Topic: Growth Stocks

INNERGEX RENEWABLE ENERGY $13.82

INNERGEX RENEWABLE ENERGY $13.82 (Toronto symbol INE; Shares outstanding: 104.0 million; Market cap: $1.4 billion; TSINetwork Rating: Extra Risk; Dividend yield 4.6%; www.innergex.com) has acquired eight wind power projects in northern France from a German company for $137 million.

The purchase includes seven operating plants with 87 megawatts of generating capacity, plus a 44-megawatt project now under construction. All power generated at the eight plants is already sold under long-term power-purchase contracts averaging 13 years in length.

The acquisition is Innergex’s first in Europe. It sees France as a big growth market and plans to buy or build more plants.

Innergex Renewable Energy is still a buy.

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