Innergex and MMBC Secure Financing for Mesgi’g Ugju’s’n 2 Wind Project

The latest announcement is out from Innergex Renewable Energy ( (TSE:INE) ).

Innergex Renewable Energy Inc. and Mi’gmawei Mawiomi Business Corporation (MMBC) have secured financing for the 102 MW Mesgi’g Ugju’s’n 2 Wind Project, a significant step in their collaboration with Mi’gmaq communities in Quebec. The project, which is an extension of an existing wind facility, highlights the potential of Indigenous-led clean energy initiatives and is expected to enhance regional economic impact and sustainability. Upon completion in 2026, the project will operate under a 30-year power purchase agreement with Hydro-Québec, demonstrating innovative financial structuring and strong partnerships with key financial institutions.

The most recent analyst rating on (TSE:INE) stock is a Hold with a C$11.00 price target. To see the full list of analyst forecasts on Innergex Renewable Energy stock, see the TSE:INE Stock Forecast page.

Spark’s Take on TSE:INE Stock

According to Spark, TipRanks’ AI Analyst, TSE:INE is a Outperform.

Innergex Renewable Energy demonstrates strong technical momentum and strategic corporate developments, particularly with the CDPQ acquisition. Financial challenges such as high leverage and valuation concerns weigh on the score. The earnings call and corporate events provide optimism, but consistent profitability and financial stability are crucial for improvement.

To see Spark’s full report on TSE:INE stock, click here.

More about Innergex Renewable Energy

Innergex Renewable Energy Inc. 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 in Canada, the United States, France, and Chile, managing a portfolio of high-quality assets, including 91 operating facilities with an aggregate net installed capacity of 3,737 MW. Innergex is committed to promoting renewable energy for healthier communities and shared prosperity.

Average Trading Volume: 979,711

Technical Sentiment Signal: Buy

Current Market Cap: C$2.79B

For detailed information about INE stock, go to TipRanks’ Stock Analysis page.