Fondaction has invested $75 million in Innergex Renewable Energy to enhance its growth in the renewable energy sector.

Information on the Target

Fondaction has recently announced a significant investment of $75 million in Innergex Renewable Energy Inc. ("Innergex") to foster its growth in the renewable energy sector. Headquartered in Longueuil, Innergex is engaged in the development, acquisition, ownership, and operation of hydroelectric plants, wind farms, solar parks, and energy storage facilities. The company operates primarily in Canada, the United States, France, and Chile.

Innergex boasts a robust renewable energy portfolio, with a current installed capacity of 4,184 MW. Additionally, there are numerous development projects underway that are anticipated to add another 768 MW of capacity in the coming years. The positive environmental impact of Innergex's operations and its essential role in the global energy transition are considerably significant for the well-being of the planet.

Industry Overview in Canada

The renewable energy sector in Canada continues to gain momentum, driven by both government initiatives and growing public awareness of climate change. The country benefits from a diverse energy mix,