Highlights3^{rdIn the third quarter of 2023, Boralex produced 1,110 GWh (1,522 GWh) of electricity, 9% (31%) more than the 1,019 GWh (1,159 GWh) produced in the same quarter of 2022. The increase on a Consolidated basis is attributable to the commissioning of wind and solar farms and the good performance of comparable wind sites in France. The increase on a Combined basis is primarily due to the integration of the wind farms acquired in the United States in late 2022 as well as from elements contributing to the increase on a Consolidated basis. The diversification of the Corporation’s activities both by region and by technology enabled Boralex to partly compensate for the highly unfavourable wind conditions in Canada during the quarter. Boralex thus ended the quarter with total production 9% (7%) below anticipated production4Nine-monthFor the nine-month period ended September 30, 2023, Boralex produced 4,159 GWh (5,670 GWh) of power, which represents an increase of 4% (26%) compared to the 3,998 GWh (4,486 GWh) produced in the same period in 2022. Revenues from energy sales and feed-in premiums for the nine-month period ended September 30, 2023, amounted to $679 million ($759 million), up $183 million ($210 million) or 37% (38%) from the same period in 2022.About BoralexPerformancecomparablecomparableCombinedThe following tables reconcile Consolidated financial data with data presented on a Combined basis:
EBITDA(A)Cash2023202220232022AvailableDisclaimer regarding forward-looking statementsCertain statements contained in this release, including those related to results and performance for future periods, installed capacity targets, EBITDA(A) and discretionary cash flows, the Corporation’s strategic plan, business model and growth strategy, organic growth and growth through mergers and acquisitions, obtaining an investment grade credit rating, payment of a quarterly dividend, the Corporation’s financial targets, the partnership with Énergir and Hydro-Québec for the elaboration of three 400 MW projects for which the development will depend on Hydro-Québec’s changing needs, the portfolio of renewable energy projects, the Corporation’s Growth Path and its Corporate Social Responsibility (CSR) objectives are forward-looking statements based on current forecasts, as defined by securities legislation. Positive or negative verbs such as “will,” “would,” “forecast,” “anticipate,” “expect,” “plan,” “project,” “continue,” “intend,” “assess,” “estimate” or “believe,” or expressions such as “toward,” “about,” “approximately,” “to be of the opinion,” “potential” or similar words or the negative thereof or other comparable terminology, are used to identify such statements.
(GlobeNewsWire)}