Pattern Energy made a net loss of $29m in the first three months of 2016, compared with a $22.1m loss in the same period last year.
The company said the increase was attributable to projects that were acquired in May 2015 or became commercially operable in the third quarter of 2015.
Other reasons for the increased loss were changes to interest expense and losses on undesignated derivatives.
Earnings before interest, taxes, depreciation and amortisation were up 67% at $78.1m, from $46.7m in the first quarter of 2015, Pattern said.
Pattern sold 1,801,034MWh of electricity in the first three months of 2016, compared with 935,981MWh last year.
However, it added that El Nino conditions continued into early 2016 resulting in lower wind speeds and lower production than the company’s long-term average forecast.
Image: Pattern Energy
Pattern posts $29m loss
First three months of 2016 see company's losses grow on same period last year
By EBS