Innergex Renewable Energy Inc. (TSX: INE) (Innergex) has announced the closing of a US$322.7 million (CAN$441.6 million) tax equity commitment (Upfront Investment) with J.P. Morgan and Capital One (the Tax Equity Investors) for the 329.8 MW Boswell Springs Wind Project located in Albany County, Wyoming. The Tax Equity Investors have committed to fund the Upfront Investment at substantial completion, with commercial operation planned for Q4 2024, and to make cash payments as production tax credits are generated over a 10-year period.
Latham & Watkins LLP represents Innergex in the transaction, with a deal team led by New York partner Eli Katz and New York partner Kelly Cataldo, with Washington, D.C. counsel Isaac Maron, and associates Jiyeon Chun, Andrea Herman, and Cait O’Neill.
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