An announcement from Innergex Renewable Energy ( (TSE:INE) ) is now available.
Innergex Renewable Energy Inc. has announced a definitive agreement to be acquired by CDPQ for $13.75 per common share, a move approved by an overwhelming majority of its shareholders. The company also reported a 7% increase in Adjusted EBITDA Proportionate for Q1 2025, reaching $181.9 million, and highlighted the commercial operation of its Hale Kuawehi solar facility in Hawaii. This acquisition is expected to take Innergex private by Q4 2025, potentially strengthening its market position and operational capabilities in the renewable energy sector.
Spark’s Take on TSE:INE Stock
According to Spark, TipRanks’ AI Analyst, TSE:INE is a Neutral.
Innergex Renewable Energy demonstrates strong technical momentum and positive strategic developments, particularly with the CDPQ acquisition. However, financial challenges such as high leverage and valuation concerns weigh on the overall score. The positive earnings call and corporate events provide optimism, but consistent profitability and financial stability are crucial for improvement.
To see Spark’s full report on TSE:INE stock, click here.
More about Innergex Renewable Energy
Innergex Renewable Energy Inc. is a leading global independent renewable power producer based in Longueuil, Quebec. The company focuses on the production of renewable energy through hydroelectric, wind, and solar power facilities, aiming to contribute to sustainable energy solutions worldwide.
Average Trading Volume: 1,395,754
Technical Sentiment Signal: Buy
Current Market Cap: C$2.75B
Learn more about INE stock on TipRanks’ Stock Analysis page.