07:04 AM EST, 12/18/2024 (MT Newswires) -- Innergex Renewable Energy ( INGXF ) late on Tuesday said it has closed two non-recourse financing agreements totaling $199 million to optimize the financial structure of its renewable energy assets and support future development activities.

The first is a $133.7 million non-recourse project financing with The Canada Life Assurance Company for the 50-megawatt (MW) Ashlu Creek hydro facility.

The second is a $65.3 million non-recourse back leverage financing with National Bank of Canada and SLC Management for the 150-MW Mesgi'g Ugju's'n wind farm.

The Ashlu Creek hydro facility started operations in 2009 and the Mesgi'g Ugju's'n wind farm has been operating since 2016. The projects are underpinned by long-term power purchase agreements with BC Hydro and Hydro-Quebec, respectively.