Innergex Renewable Energy Inc Q1 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : I had a few questions on Hawaii. So I guess the first question is in terms of the $13 million that you'd get back. Can you just give a bit of color as to whether you're just getting back a deposit? Or are you actually making some gain out of the arrangement of terminating some of the battery contracts? And then the second part of that question is, can you just give an update on your Hawaii strategy? Because I guess you've sold in the early-stage projects, you're canceling some of the battery supply agreements. Can you just give a bit of color on, yes, I guess, what your longer-term strategy is there for Hawaii?

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : Okay. That makes sense. And then just one quick question on Simmons Creek and Rutherford Creek. So I think in the MD&A, there's a disclosure saying they're in breach of their credit facilities. Is that mainly just due to low hydrology and they'll go back to normal once¡

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : Okay. Got it. And then I guess one last question on Innavik, the hydro development. I know it's small, it's 7.5 megawatts and the year only own 50%. But I noticed that disclosure on the EPC contract are asking for roughly $58 million. I think looking at some older reports from a few years ago, the original project cost was about $125 million on a 100% basis. So can you just comment on where we are on project costs?