QUEBEC CITY—Innoventé Inc. has announced the construction of a green energy plant in Trois-Rivières, Que., following its signing of a 25-year contract with Hydro-Québec to produce 8.8-megawatts of electricity.
Valued at approximately $255-million, the deal is the second such agreement with the provincial utility for the Quebec-based green energy producer.
The Trois-Rivières plant represents a $30- to $35-million investment and will lead to the creation of 40 jobs when it enters into service in spring 2015, according to the company.
The construction phase, which will begin in autumn 2013 in the Hautes-Forges industrial park, will create work for about 100 workers.
Innoventé produces green energy by transforming residual organic matter into combustible matter, thanks to its patented technology.
The Trois-Rivières plant will receive a pre-arranged supply of forest and pulp-and-paper residues, which will generate enough electricity to meet the needs of 10,000 people.
The plant will also emit enough heat to meet the needs of a one-hectare greenhouse.
Hydro-Québec will pay 10.6 cents per kilowatt hour, indexed on an annual basis, for electricity generated by Innoventé’s Trois-Rivières plant, the company says.