Operations begin at Innovente 4.3 MW small hydro proejct

Canadian energy producer Innovente Inc. has put a 4.3 MW hydropower project in Saint-Patrice-de-Beurivage into commercial service following a series of successful compliance tests and trials.

The small hydroelectric plant is Innovente’s (TSX: IGE) first renewable power source and one of three announced so far by the company.

“This commercial operation marks the fulfillment of years of efforts aimed at bringing a green and economically viable solution for the production of electricity from organic residues,” Innovente president Richard Painchaud said. “The Saint-Patrice plant is becoming Innovente’s showcase — a model that has already begun to multiply, with projects announced in Trois-Rivieres and Matane.”

Power generated by the plant is being sold under a 25-year power-purchase agreement with Hydro-Quebec at a price of US$0.12 per kWh, indexed at 2.13% per year.

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