🌱 Focused on Greenfield Development: Rather than acquiring existing assets, Innergex aims to grow its footprint through greenfield development and organic growth.
🔄 Strategic Capital Raising by Selling Non-Controlling Stakes: To fund this growth, Innergex will raise capital by selling non-controlling stakes in matured operational assets. This approach allows the company to self-fund organic investments, ensuring sustainable growth.
💼 Recent Strategic Action: Implementing this strategy, Innergex sold a minority interest in an 826 MW renewable portfolio, comprising two wind farms and one solar farm in Texas, to Irradiant Partners for an equity value of $188mn. Despite this sale, Innergex retains the remaining stake and operational control.