Latest news with #InnergexRenewableEnergyInc
Cision Canada
2 days ago
- Business
- Cision Canada
ERRATUM - Innergex Announces the Repayment at Maturity of its 4.75% Convertible Unsecured Subordinated Debentures due June 30, 2025
LONGUEUIL, QC, June 12, 2025 /CNW/ - Innergex Renewable Energy Inc. (TSX: INE) ("Innergex" or the "Corporation") is pleased to announced its intention to repay in full on June 30, 2025, being the maturity date, (the "Maturity Date") all of its then-outstanding 4.75% convertible unsecured subordinated debentures due on June 30, 2025 (the "Debentures") in accordance with the provisions of the trust indenture (the "Indenture") dated June 12, 2018 between the Corporation and Computershare Trust Company of Canada (the "Trustee"). The cash payment for the repayment in full of the Debentures will be 100% of the aggregate outstanding principal amount, together with accrued and unpaid interest up to, but excluding, the Maturity Date (the "Maturity Date Payment"). In accordance with the Indenture, Innergex intends to satisfy its obligation to pay the Maturity Date Payment to the Trustee in cash. Interest upon the entire aggregate principal amount of the Debentures will cease to be payable from and after the Maturity Date. The Corporation intends to draw approximately $151.5 million under its revolving credit facility and use such funds to repay in full the Debentures. The Debentures are listed on the Toronto Stock Exchange ("TSX") under the symbol " and will be delisted from the facilities of the TSX in connection with their repayment at maturity. Beneficial owners of the Debentures are encouraged to contact their investment dealer if they have any questions. About Innergex Renewable Energy Inc. For 35 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world. Innergex conducts operations in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets currently consisting of interests in 91 operating facilities with an aggregate net installed capacity of 3,737 MW (gross 4,693 MW), including 42 hydroelectric facilities, 36 wind facilities, 10 solar facilities and 3 battery energy storage facilities. Innergex also holds interests in 16 projects under development with a net installed capacity of 915 MW (gross 1,547 MW), 5 of which are under construction, as well as prospective projects at different stages of development with an aggregate gross installed capacity totaling 10,288 MW. Its approach to building shareholder value is to generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital. To learn more, visit or connect with us on LinkedIn. Cautionary Statement Regarding Forward-Looking Information To inform readers of the Corporation's future prospects, this press release contains forward-looking information within the meaning of applicable securities laws ("Forward-Looking Information"), including the repayment of the Debentures on the Maturity Date and to draw amounts under the revolving credit facility. Forward-Looking Information can generally be identified by the use of words such as "approximately", "may", "will", "could", "believes", "expects", "intends", "should", "would", "plans", "potential", "project", "anticipates", "estimates", "scheduled" or "forecasts", or other comparable terms that state that certain events will or will not occur. It represents the projections and expectations of the Corporation relating to future events or results as of the date of this press release. For more information on the risks and uncertainties, please refer to the "Forward-Looking Information" section of the Management's Discussion and Analysis for the three months ended March 31, 2025. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in Forward-Looking Information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such Forward-Looking Information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on Forward-Looking Information, which speaks only as of the date made. The Forward-Looking Information contained in this press release represents the Corporation's expectations as of the date of this press release (or as the date they are otherwise stated to be made) and are subject to change after such date. However, the Corporation disclaims any intention or obligation or undertaking to update or revise any Forward-Looking Information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. All of the Forward-Looking Information contained in this press release is expressly qualified by the foregoing cautionary statements. SOURCE Innergex Renewable Energy Inc.
Cision Canada
2 days ago
- Business
- Cision Canada
Innergex Announces the Redemption of its 4.75% Convertible Unsecured Subordinated Debentures due June 30, 2025 Français
LONGUEUIL, QC, June 12, 2025 /CNW/ - Innergex Renewable Energy Inc. (TSX: INE) ("Innergex" or the "Corporation") is pleased to announced its intention to redeem in full on June 30, 2025 (the "Redemption Date") all of its then-outstanding 4.75% convertible unsecured subordinated debentures due on June 30, 2025 (the "Debentures") in accordance with the provisions of the trust indenture (the "Indenture") dated June 12, 2018 between the Corporation and Computershare Trust Company of Canada (the "Trustee"). The redemption price for the Debentures will be 100% of the aggregate outstanding principal amount, together with accrued and unpaid interest up to, but excluding, the Redemption Date (the "Redemption Price"). In accordance with the Indenture, Innergex intends to satisfy its obligation to pay the Redemption Price to the Trustee in cash. Interest upon the entire aggregate principal amount of the Debentures will cease to be payable from and after the Redemption Date. The Corporation intends to draw approximately $151.5 million under its revolving credit facility and use such funds to redeem the Debentures. The Debentures are listed on the Toronto Stock Exchange ("TSX") under the symbol " and will be delisted from the facilities of the TSX in connection with the redemption. Beneficial owners of the Debentures are encouraged to contact their investment dealer if they have any questions about this redemption. About Innergex Renewable Energy Inc. For 35 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world. Innergex conducts operations in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets currently consisting of interests in 91 operating facilities with an aggregate net installed capacity of 3,737 MW (gross 4,693 MW), including 42 hydroelectric facilities, 36 wind facilities, 10 solar facilities and 3 battery energy storage facilities. Innergex also holds interests in 16 projects under development with a net installed capacity of 915 MW (gross 1,547 MW), 5 of which are under construction, as well as prospective projects at different stages of development with an aggregate gross installed capacity totaling 10,288 MW. Its approach to building shareholder value is to generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital. To learn more, visit or connect with us on LinkedIn. Cautionary Statement Regarding Forward-Looking Information To inform readers of the Corporation's future prospects, this press release contains forward-looking information within the meaning of applicable securities laws ("Forward-Looking Information"), including the redemption of the debenture on the Redemption Date and to draw amounts under the revolving credit facility. Forward-Looking Information can generally be identified by the use of words such as "approximately", "may", "will", "could", "believes", "expects", "intends", "should", "would", "plans", "potential", "project", "anticipates", "estimates", "scheduled" or "forecasts", or other comparable terms that state that certain events will or will not occur. It represents the projections and expectations of the Corporation relating to future events or results as of the date of this press release. For more information on the risks and uncertainties, please refer to the "Forward-Looking Information" section of the Management's Discussion and Analysis for the three months ended March 31, 2025. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in Forward-Looking Information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such Forward-Looking Information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on Forward-Looking Information, which speaks only as of the date made. The Forward-Looking Information contained in this press release represents the Corporation's expectations as of the date of this press release (or as the date they are otherwise stated to be made) and are subject to change after such date. However, the Corporation disclaims any intention or obligation or undertaking to update or revise any Forward-Looking Information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. All of the Forward-Looking Information contained in this press release is expressly qualified by the foregoing cautionary statements. SOURCE Innergex Renewable Energy Inc.
Bloomberg
25-02-2025
- Business
- Bloomberg
Quebec Pension to Buy Innergex Renewable for $7 Billion
Updated on Save Canadian pension manager Caisse de Depot et Placement du Quebec agreed to acquire Innergex Renewable Energy Inc. in an all-cash deal valuing the company at about C$10 billlion ($7 billion) including debt. Innergex investors will receive C$13.75 per share, a 58% premium to Monday's close, the companies said Tuesday in a statement. At that price, the company's equity is worth about C$2.8 billion.
Yahoo
21-02-2025
- Business
- Yahoo
Innergex Renewable Energy Inc (INGXF) Q4 2024 Earnings Call Highlights: Strategic Financial ...
Release Date: February 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Innergex Renewable Energy Inc (INGXF) completed $450 million of project finance, enhancing balance sheet flexibility. The company successfully sold down $250 million worth of investment in Texas, improving financial outcomes. Innergex Renewable Energy Inc (INGXF) achieved 97% of long-term average (LTA) production in Q4 2024, an improvement from 94% in Q4 2023. The company reported adjusted EBDA proportionate of $210 million in Q4 2024 and $761 million for the full year, marking a 13% and 3% increase year over year, respectively. Innergex Renewable Energy Inc (INGXF) has a strong pipeline with 6.2 gigawatts of potential projects by 2030, supported by long-term power purchase agreements (PPAs). Production was impacted by below-average wind regimes in France and Chile, and lower water flows at hydro sites outside of BC. The company faced lower irradiance and curtailment impacts in its Chilean solar portfolio. Total debt amounted to approximately $6.6 billion, indicating a significant leverage position. Innergex Renewable Energy Inc (INGXF) is exposed to potential duty impacts and currency exchange risks, particularly with US projects. The company needs to manage geopolitical risks and resource allocation challenges, especially with its international projects. Warning! GuruFocus has detected 8 Warning Signs with INGXF. Q: How is Innergex Renewable Energy Inc. planning to allocate capital between its markets, particularly given the significant opportunities in Canada? A: The CEO explained that while the team in France operates independently and continues to create value, Innergex is focusing heavily on Canada, hiring more people and leveraging strong partnerships with First Nations. The company is also planting seeds in the U.S. market, recognizing its potential for future growth despite current challenges. Q: Are the returns on capital deployed in Canada expected to exceed those in France, the U.S., or Chile? A: The CEO noted that while France offers a niche market with good risk-reward balance, Chile presents higher risks and thus demands a premium. The U.S. market is competitive but offers pockets of high returns. Canada, however, is seen as a particularly attractive proposition in terms of risk-reward. Q: Can you comment on the corporate lending facility and how comfortable Innergex is with its current debt levels? A: The CFO stated that recent financial maneuvers have provided significant flexibility. The company repaid $150 million of corporate debt and has the option to use its revolving credit facility to manage upcoming convertible debenture maturities, ensuring continued project development and financial stability. Q: What is the expected capital expenditure for the five projects currently under construction? A: The CEO mentioned that the capital expenditure varies but generally ranges from $3 to $3.8 million per megawatt for wind assets, depending on specific project details and contract negotiations. Q: How is Innergex addressing the impact of U.S. tariffs and currency fluctuations on its projects? A: The CEO explained that for U.S. projects with long-term revenue in U.S. dollars, the currency acts as a natural hedge. The company has already secured panels for the Palomino project and anticipates a potential $10 million duty impact, which they plan to mitigate through strategic supply chain management and currency hedging. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
