Canada-based Algonquin Power Income Fund said its hydro power assets generated at 100% of long-term averages in the second quarter ended 30 June.
While not breaking down the financial performance by energy resource and noting the on-the-mark contribution of hydro, Algonquin said the rise in revenue for the quarter was chiefly due to increased output in two cogeneration plants plus contribution from a wind power acquisition.
Algonquin has 47 hydro plants and the combined installed capacity is 142.5MW, representing slightly more than a third of its asset base – and the largest energy resource sector in the portfolio. The Fund’s hydro assets are in the US and Canada.
The Fund plans further investment in renewables in the coming month, chiefly on non-hydro.