Boralex has increased its earnings before interest, tax, depreciation and amortisation (EBITDA) to C$83m (€11m) in the third quarter of 2020, up 18% compared with the third quarter of 2019.
The positive results are due to higher combined wind power production than in the corresponding quarter of 2019, Boralex said.
Total wind power production from the company’s assets increased 5% in the third quarter of this year, compared with the same quarter in 2019.
Wind power production in Canada was up 10% compared with the third quarter in 2019, while wind power production in France was the same as in 2019.
Boralex said four projects totalling 47MW are at advanced to ready-to-build stages in France.
The company also commissioned the 11MW Blanche Fosses wind farm on 1 November.
Boralex has also submitted bids for three solar park projects totalling 140MW in New York State.
Results of the RfPs will be unveiled in 2021.
Boralex CEO Patrick Lemaire (pictured) said: “For the second consecutive quarter, our growth in results stems from increased wind power production in Canada and operational and financial optimization initiatives put in place over the past year.
“During the quarter, our teams were able to make up for lost construction time and commission our Blanches Fosses wind farm in France as scheduled before Covid-19.
“Our development teams were also very active, submitting three solar park projects in the United States and advancing four projects to the ready-to- build stage in France.”