This presentation contains forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements relating to Innergex and/or Alterra's power production, prospective projects, successful development, construction and financing of the projects under construction and the advanced-stage prospective projects, estimates of recoverable geothermal energy resources, business strategy, future development and growth prospects, business integration, governance, business outlook, objectives, plans and strategic priorities, the anticipated completion of the Alterra Transaction and timing for such completion, sources and impact of funding of the Alterra Transaction, and strategic, operational and financial benefits and accretion expected to result from the Alterra Transaction, and other statements that are not historical facts. Forward-looking information can generally be identified by the use of words such as "may", "will", "should", "estimate", "expect", "anticipate", "plan", "budget", "scheduled", "forecasts", "intend", "believe", "projected", "potential", or other comparable terminology that states that certain events will or will not occur. It represents the estimates and expectations of Innergex relating to its future results and developments as of the date of this presentation.
Since forward-looking statements address future events and conditions, they are by their very nature subject to inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the renewable energy industry in general such as execution of strategy; ability to develop Innergex's and Alterra's projects on time and within budget; capital resources; derivative financial instruments; current economic and financial condition; hydrology and wind regime; highly speculative nature of geothermal development programs; construction, design and development of new facilities; performance of existing projects; equipment failure; interest rate and refinancing risk; currency exchange rates, financial leverage and restrictive covenants; and relationship with public utilities.
Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the operations or financial results of Innergex (including Innergex following closing of the Alterra Transaction) are included in Innergex' annual information form filed with applicable Canadian securities regulators and may be accessed through the SEDAR website (www.sedar.com).
Innergex is relying on certain assumptions that it believes are reasonable at this time, including assumptions as to the time required to prepare meeting materials for mailing, the timing of receipt of the shareholder, court, regulatory and other third-party approvals and the time necessary to satisfy the conditions to the closing of the Alterra Transaction. These dates may change for a number of reasons, including unforeseen delays in preparing meeting materials, inability to secure necessary regulatory or court approvals in a timely manner or the need for additional time to satisfy the conditions to the completion of the Alterra Transaction. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this presentation concerning these times.
The forward-looking statements contained in this presentation are made as of the date hereof and Innergex undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
NON IFRS MEASURES
Adjusted EBITDA, Free Cash Flow and Payout Ratio are not measures recognized by International Financial Reporting Standards (IFRS) and have no meaning prescribed by it. References to "Adjusted EBITDA" are to revenues less operating expenses, general and administrative expenses and prospective project expenses. References to "Free Cash Flow" are to cash flows from operating activities before changes in non-cash operating working capital items, less maintenance capital expenditures net of proceeds from disposals, scheduled debt principal payments, preferred share dividends declared and the portion of Free Cash Flow attributed to non-controlling interests, plus cash receipts by the Harrison Hydro L.P. for the wheeling services to be provided to other facilities owned by the Corporation over the course of their power purchase agreement, plus or minus other elements that are not representative of the Corporation's long- term cash generating capacity, such as transaction costs related to realized acquisitions (which are financed at the time of the acquisition) and realized losses or gains on derivative financial instruments used to hedge the interest rate on project-level debt or the exchange rate on equipment purchases. References to "Payout Ratio" are to dividends declared on common shares divided by Free Cash Flow. Readers are cautioned that Adjusted EBITDA should not be construed as an alternative to net earnings and Free Cash Flow should not be construed as an alternative to cash flows from operating activities, as determined in accordance with IFRS.
Innergex believes that these indicators are important, as they provide management and the reader with additional information about the Corporation's production and cash generation capabilities, its ability to sustain current dividends and dividend increases and its ability to fund its growth. These indicators also facilitate comparison of results over different periods.
INNERGEX RENEWABLE ENERGY INC.
Founded in 1990
Public Listing TSX: INE
Energy Sources Hydro Wind Solar
Dividend / Yield
31 Hydro Facilities
Markets Canada France USA
Total Installed Capacity 1,780 MW
(net 1,078 MW1)
Investment Grade Credit Rating
1 Solar Farm
1 Net capacity represents the proportionate share of total installed capacity attributable to Innergex, based on its participation in each facility
Our mission is to increase our production of renewable energy by developing and operating high-quality facilities while respecting the environment and balancing the best interests of the host communities, our partners and our investors.
Innergex Renewable Energy Inc. published this content on 10 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 November 2017 16:43:03 UTC.