The companies will see to develop 18 run-of-river projects under a joint venture that is two-thirds controlled by Innergex. If approved and built, the projects would have a total installed capacity of more than 200MW and produce more than 1,000GWh annually.

Innergex is investing approximately US$8M to have the JV with Ledcor, which represents a purchase price of about US$40,000 per MW.

As part of the financial terms of the deal, Innergex is also issuing 200,000 warrants to Ledcor subject to the approval of the Toronto stock exchange. The warrants are exercisable within two years of the close of the transaction.