Innergex Power Income Fund completes C$100 million acquisition of the Rutherford Creek hydroelectric power facility
Date Closed
December 15, 2005
Lead Office
Montréal
Value
100.00 Million CAD
On December 15, 2005, Innergex Power Income Fund acquired the Rutherford Creek hydroelectric power facility located in British Columbia for a total consideration of approximately C$100 million.
The Rutherford Creek facility is a 49.9MW run-of-the-river hydroelectric power facility located near Pemberton in British Columbia. The project benefits from a long-term Power Purchase Agreement with a 20-year term with British Columbia Hydro and Power Authority.
The Fund’s acquisition was financed through a C$56 million subscription receipt offering. The syndicate of underwriters for the subscription receipt offering was led by BMO Nesbitt Burns Inc. and included TD Securities Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc.
McCarthy Tétrault LLP represented Innergex Power Income Fund, as acquirer, with a team led by Kim Thomassin.
