Innoventé to relocate NL wood power plant

Mar. 7, 2011, Quebec City – Innoventé,
which produces renewable energy from organic waste, has acquired a 5-MW
cogeneration plant owned by Newfoundland and Labrador Hydro. Situated in
Roddickton, Newfoundland, the plant will be relocated to Innoventé’s
installations at St-Patrice-de-Beaurivage, Quebec. With this agreement, the
company is getting one step closer to starting electricity production in 2012.

By acquiring an existing plant, the company
is saving $7 million on initially estimated costs of $17 million. Richard
Painchaud, president of Innoventé says, “The savings achieved with this
purchase will contribute to the development of new projects in Quebec, Ontario,
and the USA.”