CDPQ and Innergex Renewable Energy Inc. have inked a definitive agreement under which CDPQ will acquire all issued and outstanding common shares of Innergex for $13.75 per share in cash. This represents a 58 per cent premium over Innergex’s current share price of $8.71.
Furthermore, CDPQ will also acquire all issued and outstanding preferred shares of Series A and C for $25.00 per share in cash. The transaction has a total enterprise value of $10 billion. The transaction is expected to close by the fourth quarter of 2025.
Earlier in June 2024, Innergex Renewable Energy inked a deal with Irradiant Partners to divest minority interests in its 826 MW renewable energy portfolio in Texas. Innergex planned to sell 49.9 per cent of its stakes in the 250 MW Phoebe solar farm and 226 MW Griffin Trail wind facility, along with 22.2 per cent of its interest in the 350 MW Foard City wind facility, to Irradiant.
