Hydro power output increased by more than half to 118GWh in the three months to 30 September, which far outstripped the performance from the thermal parts of the portfolio. Over the nine months of the financial year the output is up almost 15% over last time.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) improved by two-thirds to almost Can$8M (US$7M) compared to Q3-’07. For the first nine months the earnings were almost 11% higher compared to last time.
Revenues from hydro power in Q3 jumped by more than 60% to Can$9.7M. For the nine months the revenues were up 9% to Can29.2M.
Production volumes from the resource improved by two-thirds in the US and more than 40% in Canada.
The hydro assets in the portfolio are valued at almost Can$275M, and little was added in the quarter.
While revenues from the entire 190MW portfolio of hydro and thermal plants increased by Can$23.5m, or almost 19%, over last time the Fund’s total Ebitda results was up 3% to Can$10.1M.
