Innergex Renewable Energy Inc (TSX:INE.PR.C.PFD)
C$ 24.91 +0.010 (+0.04%) Market Cap: - Enterprise Value: 1.13 Bil PE Ratio: 72.23 PB Ratio: 2.87 GF Score: 73/100
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Q4 2024 Innergex Renewable Energy Inc Earnings Call Transcript

Feb 20, 2025 / 02:00 PM GMT
Release Date Price: C$20.39

Key Points

Positve
  • Innergex Renewable Energy Inc (INGXF) completed $450 million of project finance, enhancing balance sheet flexibility.
  • The company successfully sold down $250 million worth of investment in Texas, improving financial outcomes.
  • Innergex Renewable Energy Inc (INGXF) achieved 97% of long-term average (LTA) production in Q4 2024, an improvement from 94% in Q4 2023.
  • The company reported adjusted EBDA proportionate of $210 million in Q4 2024 and $761 million for the full year, marking a 13% and 3% increase year over year, respectively.
  • Innergex Renewable Energy Inc (INGXF) has a strong pipeline with 6.2 gigawatts of potential projects by 2030, supported by long-term power purchase agreements (PPAs).
Negative
  • Production was impacted by below-average wind regimes in France and Chile, and lower water flows at hydro sites outside of BC.
  • The company faced lower irradiance and curtailment impacts in its Chilean solar portfolio.
  • Total debt amounted to approximately $6.6 billion, indicating a significant leverage position.
  • Innergex Renewable Energy Inc (INGXF) is exposed to potential duty impacts and currency exchange risks, particularly with US projects.
  • The company needs to manage geopolitical risks and resource allocation challenges, especially with its international projects.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

INE.TO - Innergex Renewable Energy Inc
Q4 2024 Innergex Renewable Energy Inc Earnings Call
Feb 20, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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I think that it shows our resilience and our ability in our own market to be successful as well.

Financing team has done a lot of work as well, completed $450 million of project finance that provides us a lot more flexibility in our balance sheet and also Sean is going to talk about it.

We are going to meet the TPI for each ratings, so.

Constructive this year. We also have sailed down $250 million worth of investment in Texas, as we have been able to get rid of the PowerEdge project but contract in Texas, so very happy on this outcome as well.

If we switched on the other slide, I think this is a very good testament on our ability to win on our market in Canada. We always said
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