Innergex banks revenue rise
Canadian company’s annual income shows 37% increase for 2017
Canadian developer Innergex Renewable Energy increased annual revenue in 2017 to $400.3m, a 37% hike on the year-ago period, according to annual results.
The company attributed the sales spike to new capacity being commissioned, the acquisition of wind farms in France and higher production hydro facilities in Ontario.
The latter was partially offset by lower production at Innergex hydro plants in British Columbia, it added.
Annual adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to $298.7m, up 38% from 2016.
During 2017 Innergex facilities produced 4394GWh of electricity.