Monday, March 20 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Mar 20
Week of Mar 13
Week of Mar 06
Week of Feb 27
Week of Feb 20
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Innergex cuts 2022 output outlook, meets US wind PPA conditions

    January 19, 2023 - SeeNews Renewables


      January 19 (Renewables Now) - Innergex Renewable Energy Inc (TSE:INE) has lowered its 2022 projections for free cash flow per share and output and made an update related to the PPA for its 320-MW Boswell Springs wind project in Wyoming.

      The Canadian power producer said on Wednesday it has met all necessary conditions to make the power purchase agreement (PPA) for Boswell Springs come into force. The 30-year contract with PacifiCorp, a subsidiary of Berkshire Hathaway Inc (NYSE:BRK.A), was signed in August 2022.

      Innergex is currently working to secure debt and tax equity financing for the USD-544-million project and is gearing up to commence on-site construction works in the second quarter. The wind farm, to be powered by GE hardware, is scheduled to go live in the closing quarter of 2024.

      The Canadian firm anticipates the operating cash flows from Boswell Springs will be around USD 22.6 million a year. The project will receive Production Tax Credits, which will bring some USD 39.2 million annually.


      Innergex revised downwards its projections for power generation in 2022, expecting an increase of 13% as compared to 2021 levels, rather than by 22%. Free cash flow per share, meanwhile, is seen to be around 10% less than the guidance of CAD 0.75 (USD 0.55/EUR 0.51) provided last August, according to preliminary calculations.

      The adjustments had to be made due to the extremely low hydropower resources in British Columbia and the revenue-sharing mechanism for certain PPAs in France. No other metrics in the 2022 forecast have been revised.

      Innergex’s 2022 financial report is due to be released on February 22.

      (CAD 1.0 = USD 0.740/EUR 0.686)


    Other Articles - Utility Business / General


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.