These renewables are expanding worldwide

Article Excerpt

INNERGEX RENEWABLE ENERGY $15.27 (Toronto symbol INE; Shares outstanding: 133.6 million; Market cap: $2.0 billion; TSINetwork Rating: Extra Risk; Dividend yield 4.6%; www.innergex.com) operates 37 hydroelectric plants, 25 wind farms and four solar power fields. Those operations are spread across the provinces of Quebec, Ontario and B.C., as well as Idaho, France and Chile. The company gets 40% of its power from hydro, 57% from wind and 3% from solar energy. In February 2018, Innergex purchased Alterra for a total of $1.1 billion. That firm operated 10 projects (three hydro, three wind, two geothermal and two solar) in Canada, the U.S. and Iceland. In addition, it had both a U.S. wind plant and an Iceland hydro project under construction. In May 2019, Innergex sold all its assets in Iceland acquired in the Alterra purchase. This included a 53.9% stake in two geothermal power projects. The buyer was Jarðvarmi SLHF and the sales price was $408.8 million. In the quarter ended June 30, 2019, cash flow…