Innergex grows in Texas

Article Excerpt

INNERGEX RENEWABLE ENERGY $15.30 (Toronto symbol INE; Shares o/s: 133.6 million; Market cap: $2.0 billion; TSINetwork Rating: Extra Risk; Dividend yield 4.6%; operates 37 hydroelectric plants, 25 wind farms and four solar power fields. The company has just begun commercial operations at its 350.3 megawatt Foard City wind farm, consisting of 139 GE wind turbines over 31,449 acres in Foard County, Texas. The wind farm benefits from a 12-year power purchase agreement with Vistra Energy for 300 megawatts of the Foard City total installed capacity. The remainder of the project’s output will be sold at market prices. With three wind farms now in operation in Texas as well as one solar project on the way, Innergex will have installed capacity of more than 1,000 megawatts in that state. And with more solar projects in development in Hawaii and Ohio, the company aims to continue to grow by strengthening its presence in the U.S. Innergex Renewable Energy is a buy. buy…

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