Boralex’s earnings rose to $142.2m in the first nine months of the year, up from $115.5m in the same period last year.
The rise came despite a poor third quarter which saw earnings slightly down at $24.6m on the previous year’s $27.7m.
The company cited unfavourable weather conditions at some wind farms in France and hydro plants in the US as the reason for the drop.
Revenue from energy sales grew in the first nine months of the year to $224.9m from $184.6m in the 2015.
The company said it has 224MW of projects under construction and expects to achieve its target of an asset base of over 1.65GW by the end of 2020 – equivalent to nearly 50% growth from its current level.
It also expects to secure long-term agreements in France associated with indexed feed-in-tariff for 200 to 250MW of its projects by the end of the year.
Image: Boralex
