The following is a summary of the Innergex Renewable Energy Inc. (INGXF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Innergex reported adjusted EBITDA of $196 million in Q3 2024, a slight decrease of 3% year-over-year.

• Free cash flow was reported at $70.8 million for the quarter, or $0.35 per share.

• Total debt remained stable at $6.4 billion.

Business Progress:

• Continued expansion in Chile with new BESS projects aiming to leverage arbitrage opportunities and offer 24/7 renewable power through PPAs.

• Notable development achievements include the full commissioning of the Innavik hydro facility and progress on the Boswell Springs wind farm and Hale Kuawehi solar project.

• Signed a 25-year fully indexed PPA for the Portneuf hydro portfolio.

Opportunities:

• Chile presents continued opportunity with BESS projects aimed to capitalize on arbitrage.

• Redevelopment and expansion in Canada, especially towards securing more opportunities with First Nations partnerships and upcoming RFPs in BC and Ontario.

Risks:

• The overall soft performance in Q3 due to weaker natural resource availability impacting production.

• Market conditions including U.S. policy changes potentially affecting project financing and tax benefits for renewable energy projects.

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