YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Two subsidiaries of Canadian renewable energy firm Innergex Renewable Energy Inc. filed a lawsuit against Citigroup.
The subsidiaries, Shannon Wind and Flat Top Wind, allege Citigroup ignored a force majeure declaration when winter temperatures hit their wind farms in Texas earlier this year.
The lawsuit alleges Citi invoiced them for electricity it bought at inflated prices despite the force majeure declaration filed due to unforeseeable circumstances preventing them from fulfilling their contract.
Read more from Reuters.
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