Innergex Renewable Energy Inc. (TSX:INE) and Hydro-Québec International, Inc. entered right into a Membership interest purchase agreement to acquire Curtis Palmer, a 60 MW run-of-river hydroelectric portfolio from Atlantic Energy Solutions, Inc. (OTCPK:AESO) for CAD 390 million on August 17, 2021. Additionally, there is an earn-out provision subject to the evolution of NYISO market pricing. Upon closing, Innergex will personal not directly a 50% curiosity within the Amenities with Hydro-Québec not directly proudly owning the remaining 50% curiosity. Innergex is also announced a CAD 175.0 million bought deal equity financing of common shares and CAD 43.5 million concurrent private placement of common shares to Hydro-Québec. The proceeds of equity financing will be used to fund the deal. The acquisition is expected to close in Q4 2021 and is subject to regulatory approvals including FERC and HSR, as well as customary closing conditions. Centerview Partners has acted as a financial advisor to Squared and Atlantic Power.

Innergex Renewable Energy Inc. (TSX:INE) and Hydro-Québec International, Inc. completed the acquisition of Curtis Palmer, a 60 MW run-of-river hydroelectric portfolio from Atlantic Energy Solutions, Inc. (OTCPK:AESO) for approximately CAD 390 million on October 25, 2021. The consideration also includes CAD 11.4 million of cash and working capital adjustments. The 5 employees currently working at the Facilities are joining the Innergex team. Eli Katz and David Owen of Latham & Watkins LLP acted as legal advisor for Innergex.