Kwoiek Creek Hydroelectric Project Financing Closes

Kwoeik Creek Resources Limited Partnership (“KCRLP”), an entity owned equally by Innergex Renewable Energy Inc. (“Innergex”) and the Kanaka Bar Indian Band (the “Kanaka”), and a group of life insurance companies: The Manufacturers Life Insurance Company (“Manulife”), as agent and lead lender, and The Canada Life Assurance Company and The Great-West Life Assurance Company (“Great-West”), as lenders, closed a $168.5 million non-recourse construction and term project financing for the Kwoiek Creek run-of-river hydroelectric project. The 49.9 MW project will be located on the Kanaka's reserve lands on Kwoiek Creek south of Lytton, BC, and is expected to reach commercial operation in late 2013. Electricity generated by the project will be sold under a 40-year electricity purchase agreement with BC Hydro.

KCRLP and Innergex were represented by Nathalie Théberge, Innergex's Senior Director, Corporate Legal Affairs and Yves Baribeault, Senior Director, Legal Affairs, Operations and Administration and by a McCarthy Tétrault LLP team, led by Marc Dorion (energy) and including Richard O'Doherty, Morgan Troke and Kevin Wright (financial services); Elizabeth Yip and Gillian Piggott (real estate); Tim Kwan and Josh Walters (energy) and Thomas Isaac (Aboriginal).

The Kanaka Bar Indian Band was represented by Miller Titerle LLP with a team comprising Rob Miller and David Allardice.

The Lenders were represented by Manulife's in-house counsel, Ken Pogrin and Jiles Chamberlain, by Great-West's in-house counsel, Bob Briercliffe, and by a team from Davies Ward Phillips & Vineberg LLP with a team comprising Nick Williams, Chris Figel and Will Buchner (banking and project finance); Sarah Powell (energy and environmental) and Dan Wolfensohn and Trevor Rowles (corporate); and by Lawson Lundell LLP with a team comprising James Sutcliffe (banking and debt financing); Christine Kowbel (Aboriginal and environmental) and Ed Wilson (real estate).