Canadian company Boralex earnings rose 10% in the second quarter of 2021, compared with the same period last year, but could not prevent it making a net loss.
EBITDA stood at C$117m (€79m) between the start of April and end of June, up from C$107m last year.
However, Boralex made a net loss of C$9m this year, wider than the C$5m loss in the 2020 second quarter.
EBITDA grew thanks to wind acquisitions in the Canadian province of Quebec and solar assets in the US, as well as the commissioning of new projects.
However, the company was impacted by unfavourable hydro conditions due to low rainfall levels.
The increase in the loss is attributable to the addition of amortisation and financial expenses related to acquisitions and commissioning of projects, it added.
Boralex said it added 743MW to its project pipeline in the period.
President and chief executive Patrick Decostre said: “We are in the final stages leading up to our project submission for the New York State request for proposals for solar projects.
“We are very proud of the many high-quality projects and the capacity we are in a position to offer.
“In the coming quarters, we will also continue to seek acquisition opportunities and to implement the various initiatives outlined in our 2025 Strategic Plan, including the optimisation of our capital structure and the execution of our corporate social responsibility strategy.”