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Boralex posts net earnings dip

Revenue and production both rise in the first half of 2017

Boralex posts net earnings dip image

Boralex net earnings fell to $9m in the first of half of 2017, compared with $16m in same period last year.

However, revenue rose to $240m in the first six months of the year, up from $199m in 2016.

Electricity production also increased, with some 1926 gigawatt-hours generated from January to the end of June. This compared with 1651GWh in the first half of 2016.

Boralex said by the end of the year it expects four new wind farms in France to be commissioned totalling 87MW.

This will bring total installed capacity at the company to 1456MW, up 321MW on the figure at the end of December 2016.

In 2018, a further four wind farms should be commissioned in France and one in Canada, together with a hydro plant in Ontario in Canada.

Boralex said it is “confident” of reaching its 2020 target of having 2GW of installed capacity. 

Image: Boralex

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