TSX:INE - Post Discussion
Post by
Betteryear2 on Nov 09, 2021 4:26pm
Q3 2021: Momentum Through Acquisitions
- Revenues up 13% at $184.6 million in Q3 2021 compared with Q3 2020.
- Net loss at $23.5 million in Q3 2021 compared with net earnings at $7.5 million in Q3 2020.
- Revenues Proportionate up 4% at $222.0 million in Q3 2021 compared with Q3 2020.
- Adjusted EBITDA Proportionate up 3% to $155.9 million in Q3 2021 compared with Q3 2020.
- Completion of the Energa Llaima acquisition at the beginning of Q3 2021.
- Acquisition of the Licn hydroelectric facility in Chile in August 2021.
- Acquisition of the Curtis Palmer portfolio of hydroelectric facilities as part of the Strategic Alliance with Hydro-Qubec.
- $201 million Bought Deal Equity Financing and $50 million Concurrent Private Placement.
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| All amounts are in thousands of Canadian dollars, unless otherwise indicated. |
LONGUEUIL, QC, Nov. 9, 2021 /CNW Telbec/ - Innergex Renewable Energy Inc. (TSX: INE) ("Innergex" or the "Corporation") today released its operating and financial results for the third quarter ended September 30, 2021.
"With the acquisition of the remaining interests in Energa Llaima and three hydro facilities, Innergex is securing quality and long-life assets that will immediately generate additional cash flows," said Michel Letellier, President and Chief Executive Officer of Innergex. "We are particularly proud of having announced and subsequently closed the first acquisition as part of the Strategic Alliance with Hydro-Qubec, the 60 MW Curtis Palmer portfolio of hydroelectric facilities located in New York State. This acquisition solidifies our alliance and gives us a foothold in the attractive New York renewables market. We will continue to develop our own greenfield projects and conclude strategic acquisitions to pursue our mission to build a better world with renewable energy."
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