Innergex

Name

Innergex

Legal name

Innergex Renewable Energy Inc.

Website

https://innergex.com

Company type

Private

Founded year

1990

Operating status

Acquired

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Electric Power Generation (22111), Wind Electric Power Generation (221115), Hydroelectric Power Generation (221111), Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls) (EUAMAGAH)

Keywords

• Renewable energy generation
• Utility-scale wind power
• Hydroelectric power production
• Solar energy projects
• Battery energy storage

Headquarters

HQ city

Longueuil

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Long-term Power Purchase Agreements (PPAs): Innergex generates revenue primarily through 20-30 year power purchase agreements with utilities and grid operators. Revenue consists of capacity payments (fixed components for availability) and energy payments (variable based on generation). This provides stable, predictable cash flows over the contract life.
2. Energy Generation and Sale: Sale of electricity generated from hydroelectric, wind, and solar facilities to contracted offtakers under PPAs, with additional revenue from merchant exposure in some markets.
3. Battery Storage Services: Revenue from battery energy storage systems providing grid services including frequency regulation, peak demand response, and capacity revenue. Storage assets store excess renewable energy for sale during high-price periods.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Innergex develops, acquires, owns, and operates utility-scale renewable energy generation facilities across four technology types: run-of-river hydroelectricity, onshore wind, solar photovoltaic, and battery energy storage systems. The company sells the electricity produced under long-term (20-30 year) Power Purchase Agreements (PPAs) to electric utilities and grid operators. With 4,424 MW of gross installed capacity across 90 facilities in Canada, the United States, France, and Chile, Innergex provides utility-grade clean electricity and grid services.

Product overview

Innergex is an independent renewable power producer that develops, acquires, owns, and operates hydroelectric facilities, wind farms, solar farms, and energy storage facilities. The company operates as a unified platform across four renewable energy types: Hydroelectricity (run-of-river facilities), Wind Energy (onshore wind farms), Solar Energy (solar farms), and Battery Energy Storage (grid-scale storage systems). These four product lines work together to provide comprehensive renewable energy solutions, enabling the company to diversify its energy portfolio and ensure stable, clean power generation. With 4,424 MW of gross installed capacity across 90 facilities in Canada, the United States, France, and Chile, Innergex offers an integrated approach to renewable energy production and storage.

Differentiator

Problem solved

Functional benefit

Products and services

• Hydroelectricity (Run-of-River) Run-of-river hydroelectric facilities that produce clean energy from the natural water flow of rivers, providing large-scale and stable energy generation with very long facility lifespans and minimal greenhouse gas emissions. Sold to electric utilities and grid operators under long-term Power Purchase Agreements.
• Wind Energy Onshore wind farms harnessing clean, renewable wind energy using turbines that produce no atmospheric emissions or harmful waste, with noise levels equivalent to library hum (~40 dB). Includes projects such as Boswell Springs (329.8 MW), Bessie (251 MW), La Cense (13.2 MW), Sweetwater (210 MW), and the Aela portfolio in Chile. Sold to electric utilities under 20-30 year PPAs.
• Solar Energy Solar farms that convert sunlight directly into electricity through semiconductor (photovoltaic) technology requiring no fuel or moving parts and creating no pollution. Includes the Stardale solar farm in Ontario and hybrid solar-plus-storage plants in Chile. Provides reliable non-polluting renewable energy to utilities.
• Battery Energy Storage Systems (BESS) Grid-scale battery storage facilities that store excess renewable energy for dispatch during lower production periods, meeting peak demand while providing grid stability services including frequency regulation and capacity revenue. Includes San Andres BESS in Chile (42 MW/210 MWh) and standalone BESS projects under development.

Quantifiable outcome

• 4,424 MW of gross installed capacity generating clean electricity
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• West Moberly First NationscoreStrategic or Co-development Partner · 14 May 2026Strategic partnership for renewable energy development in British Columbia. West Moberly First Nations hold 51% majority ownership through a wholly owned subsidiary of the Sweetwater Wind Project (210 MW). The partnership also won a 30-year PPA for the 251 MW Bessie Wind Project under BC Hydro's 2025 Call for Power. The partnership enables Indigenous economic development while advancing renewable energy capacity.
• EOLFIminorStrategic or Co-development Partner · 1 April 2026Co-development partnership for the La Cense wind farm in Oise, France. EOLFI collaborated with Innergex on project development, financing through participatory investment campaign, and construction which began in February 2025. The project was fully commissioned April 2026 with 13.2 MW capacity.
• Ormat TechnologiesminorOthers · 1 January 2026Innergex Renewables USA LLC sold the Hoku solar and storage facility in Hawaii to Ormat Technologies for $79.3 million in January 2026. The transaction included a 30 MW solar facility and 30 MW/120 MWh battery storage system backed by a 25-year power purchase agreement.
• PacifiCorpcoreStrategic or Co-development Partner · 14 July 2023PacifiCorp (subsidiary of Berkshire Hathaway Energy) entered into a 30-year power purchase agreement for the 329.8 MW Boswell Springs Wind Project in Wyoming. The PPA supports project financing and provides long-term contracted revenue. The project benefits from incentives under the US Inflation Reduction Act.
• Hydro-QuébeccoreStrategic or Co-development Partner · 1 January 2020Strategic alliance formed in 2020 for renewable energy development. The alliance led to Innergex's first acquisition under the partnership (Curtis Palmer) in 2021. Hydro-Québec is a major Quebec Crown corporation and one of the largest electricity producers in North America.

Scale indicators13 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Boralex: Quebec-headquartered renewable IPP operating wind, solar, hydro and storage across Canada, the U.S., France and the U.K. Closest geographic and technological peer to Innergex, including French wind operations and run-of-river hydro expertise.
• Algonquin Power & Utilities: North American renewable energy and regulated utility operator with wind, solar and hydro generation. Comparable to Innergex in renewable asset base and contracted offtake structure.
• TransAlta: Canadian power generator transitioning from coal/gas toward wind, solar and hydro under long-term contracts. Comparable to Innergex in Canadian market presence, renewable expansion strategy, and PPA-driven revenue model.
• Atlantica Sustainable Infrastructure: Sustainable infrastructure company owning and operating renewable energy, efficient natural gas and water assets under long-term contracts. Comparable to Innergex in contracted-yield business model and renewable-heavy asset base.
• Clearway Energy: U.S. renewable IPP with utility-scale wind, solar and battery storage under long-term contracts. Comparable in technology mix and contracted-revenue business model, especially around U.S. wind assets similar to Boswell Springs.
• Northland Power: Canadian power producer with renewable (onshore/offshore wind, solar) and efficient natural gas assets, using long-term PPAs. Direct comparable to Innergex given Canadian base, renewable focus, and contracted cash-flow model.
• NextEra Energy Partners: U.S.-listed yieldco that acquires and operates contracted wind, solar and battery storage assets. Comparable to Innergex in its focus on long-term PPAs, drop-down growth from a sponsor, and U.S. renewable development pipeline.
• Brookfield Renewable Partners: One of the world's largest publicly traded renewable power platforms, operating hydro, wind, solar and storage across the Americas, Europe and Asia. Highly comparable to Innergex in asset mix, long-term PPA model, and global multi-country footprint.

Others

• Innergex (pre-2025) / Comparable Canadian Independent Power Producers: Refers to Canadian independent power producers and infrastructure investors (e.g., CPPIB, La Caisse infrastructure platforms, Pattern Energy) that compete for similar utility-scale renewable PPAs and co-investment opportunities in Canada, the U.S. and Chile.

Broad incumbents

• EDF Renewables: Renewable arm of EDF Group, one of the largest global renewable developers and operators with wind, solar and storage across Europe, the Americas and elsewhere. Directly comparable to Innergex's French and U.S. operations but operates at much larger scale as part of EDF.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/innergex_ine

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries5 records

Funding overview

Funding rounds21 records

Investors19 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innergex