07/21/2020

Holland & Hart Advises Innergex Renewable Energy in its Acquisition of Six Idaho Wind Farms

Holland & Hart represented Innergex Renewable Energy Inc. (“Innergex”) in its acquisition of the sponsor interest in a portfolio of six operating wind farms in Elmore County, Idaho (the “Mountain Air Acquisition”) for a purchase price of $56.8 million from Terna Energy SA. The portfolio’s tax equity partner is insurer MetLife. Innergex is an independent renewable power producer that develops, acquires, owns, and operates hydroelectric facilities, wind farms, and solar farms in Canada, the United States, France, and Chile.

The Mountain Air Acquisition comprises six 23 MW wind farms—Cold Springs, Desert Meadow, Hammett Hill, Mainline, Ryegrass, and Two Ponds—with a total installed capacity of 138 MW and is expected to produce a gross estimated long-term average of 331 GWh per year. The six wind farms have power purchase agreements with Idaho Power Company. This strategic acquisition further expands Innergex’s portfolio in the U.S.

Holland & Hart’s transactional team was led by Billi McCullough and Linda Jones and included Nneka Obiokoye, Adam Cohen, Arthur Hundhausen, Alison Hunter, Amy Lovin, Thor Nelson, Austin Rueschhoff, and Hilary Vaughn.

Holland & Hart’s renewable energy team leverages decades of power industry experience to help clients seize opportunities to produce, develop, generate, and move electric power. We counsel clients on complex transactions and projects generating energy through solar, wind, geothermal, hydroelectric, and biofuels, as well as energy storage.

For more information, please see Innergex’s press release.

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