The company also closed a private placement of more than 12 million shares of stock with an institutional investor and the Caisse de dépôt et placement du Québec, raising a gross total of C$123.7m ($122.5m) to finance the project acquisitions.
Innergex will pay Finavera Wind Energy about C$22m for the Wildmare Wind Energy project developed in northeast British Columbia. The project has a 25-year power purchase agreement (PPA) with state utility BC Hydro.
