TransAlta Renewables lifts Q1 CAFD to USD 75m May 11 (Renewables Now) - TransAlta Renewables Inc (TSE:RNW) said on Thursday its first-quarter cash available for distribution (CAFD) increased by nearly 16% on the year to CAD 96 million (USD 75.2m/EUR 63.1m).
The Canadian renewable power producer booked a net profit attributable to common shareholders of CAD 66 million, or CAD 0.26 per basic and diluted share, as compared to CAD 27 million, or CAD 0.12 per share, a year ago. It explained that the increase was mainly due to a CAD-44-million loss in the fair value of Class B shares in the first quarter of 2017 and higher finance income. Still, there was a decrease in foreign exchange gains.
Adjusted funds from operations (FFO) grew to CAD 97 million from CAD 83 million.
Comparable earnings before interest, tax, depreciation and amortisation (EBITDA) totalled CAD 111 million, unchanged from a year earlier. Revenues climbed to CAD 125 million from CAD 124 million, whereas renewable energy production, including from wind and hydropower plants (HPPs) and excluding gas-fired stations, slipped to 1,004 GWh from 1,010 GWh.
"Results for the quarter were strong and highlighted the stability in the cash flows from our business," said TransAlta’s president John Kousinioris. He added that the company is currently involved in the expansion of the 150-MW Kent Hills wind farm in New Brunswick and is progressing two new wind projects in the US.
For 2018, TransAlta reiterated its guidance, saying it includes expected revenues from long-term contracts and the sale of green attributes.
The following table gives more details about the 2018 forecast.
| Measure, CAD million | Low | High |
| Comparable EBITDA | 400 | 420 |
| Adj. FFO | 315 | 340 |
| CAFD | 260 | 290 |
| Generation from wind and HPP assets (GWh) | 3,400 | 3,800 |
TransAlta Renewables has interests in 18 wind farms, 13 HPPs and seven natural gas generation facilities in the US and Canada, representing an ownership interest of 2,316 MW of net generating capacity.
(CAD 1.0 = USD 0.783/EUR 0.658)
Ref:
https://renewablesnow.com/news/transalta-renewables-lifts-q1-cafd-to-usd-75m-612211/