Boralex reports net earnings of $74 million for fiscal 2024 and continues construction of its large-scale projects in Québec, Ontario and the United Kingdom

Financial Results - Boralex reported a Q4-2024 EBITDA(A) of $169 million, down 17% from Q4-2023, with a total EBITDA(A) of $581 million for fiscal 2024, a slight increase from the previous year [5][11][15] - Power production in Q4-2024 was 1,520 GWh, a 16% decrease compared to Q4-2023, and total production for fiscal 2024 was 5,691 GWh, down 5% from 2023 [10][14] - Revenues from energy sales and feed-in premiums for Q4-2024 were $228 million, a decrease of 28% from Q4-2023, while total revenues for fiscal 2024 were $817 million, down 18% from the previous year [11][14] Development and Construction Activities - Boralex acquired the Clashindarroch Wind Farm Extension project in the UK, with a total capacity of 195 MW, and has a 50% interest in the project [2][4] - The company has a portfolio of projects under development totaling 8,005 MW, which is 18% higher than in 2023, focusing on high growth potential markets [5][19] - Progress is being made on several projects, including the Limekiln wind farm in the UK and the Apuiat wind farm in Quebec, with commissioning planned for 2025 [5][18] Financial Position and Cash Flow - Boralex secured nearly $1.2 billion in financing in 2024, a record for the company, despite market volatility [4][8] - As of December 31, 2024, Boralex had $592 million in cash and cash equivalents and $523 million in available cash resources and authorized financing [5][38] - Net cash flows related to operating activities for Q4-2024 were $31 million, down from $107 million in Q4-2023, with discretionary cash flows of $47 million for the quarter [5][33] Corporate Social Responsibility - Boralex's greenhouse gas emission reduction targets were validated by the Science Based Targets initiative (SBTi), demonstrating its commitment to achieving net zero emissions by 2050 [9] - The company ranked 94th out of 215 S&P/TSX Composite Index companies in a corporate responsibility assessment, improving from 102nd in the previous year [9]