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Innergex Renewable Energy (INE) investor relations material
Innergex Renewable Energy Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Entered into a definitive agreement to be acquired by CDPQ for $13.75 per share in cash, with 99.86% shareholder approval; transaction expected to close by Q4 2025.
Achieved commercial operation of the Hale Kuawehi solar and storage facility in Hawaii.
Continued progress on development and construction activities, including multiple projects in Chile, Canada, and France.
Financial highlights
Revenues and Production Tax Credits rose 12% year-over-year to $271.5 million for Q1 2025.
Adjusted EBITDA Proportionate increased 7% to $181.9 million compared to Q1 2024.
Net loss narrowed to $4.5 million from $37.7 million in Q1 2024; Adjusted Net Loss was $4.7 million versus $20.2 million last year.
Free Cash Flow for the trailing twelve months was $216.4 million, down from $241.8 million year-over-year.
Free Cash Flow per share for the trailing twelve months was $1.07, compared to $1.19 last year.
Outlook and guidance
Focused on securing regulatory approvals to complete the CDPQ acquisition by Q4 2025.
Ongoing construction of 180.2 MW in new projects, with expected commercial operation dates in 2026.
Two new solar projects in France selected for 20-year PPAs, expected commissioning in 2027.
- Adjusted EBITDA fell 8% YoY, but Free Cash Flow per share more than doubled.INE
Q2 202423 Apr 2026 - 38% Texas asset stake sold for US$188M, removing final power hedge and reducing leverage.INE
Status Update3 Feb 2026 - Q3 2024 Adjusted EBITDA fell 3%, but Free Cash Flow and guidance remain strong.INE
Q3 202415 Jan 2026 - 2024 results exceeded guidance, with strong growth, new awards, and higher 2025 targets set.INE
Q4 202416 Dec 2025
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