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Innergex acquires hydro developer Cloudworks Energy

Innergex Renewable Energy Inc. has completed the acquisition of hydropower developer Cloudworks Energy Inc.

The C185 million (US187 million) acquisition will help diversify the assets of Innergex, a Canadian renewable energy producer, which operates run-of-river hydro projects and wind farms mostly in its home province of Quebec.

Cloudworks, which employs 30 people, owns a 50.01 percent stake in six run-of-river hydroelectric facilities with a combined gross installed capacity of 150 MW.

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