On December 14, 2022, Innergex Renewable Energy Inc. has acquired all the Class A shares of its 138 MW Mountain Air wind portfolio in Idaho, U.S., for $64.4 million (US$47.5 million) from its tax equity partner, an affiliate of MetLife Investment Management. This purchase gives Innergex complete ownership, with the acquired shares accounting for the remaining 37.75 percent of the portfolio. The Mountain Air wind portfolio consists of six 23 MW wind farms expected to produce annual revenues of US$29.7 million in 2023, against anticipated operating costs of US$7.1 million. The acquisition will be primarily funded by the sale of safe harbor solar modules, sold to an undisclosed party in December 2022. This sale decision was influenced by the Inflation Reduction Act, enabling Innergex to obtain tax incentives for its project portfolio without previously secured modules. The wind farms have a 10-year power purchase agreement with the Idaho Power Company, guaranteeing 100 percent electricity purchase at escalating rates, starting from US$90.0/MWh in 2023 to US$120.9/MWh in 2032.