The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: I just want to follow up on Sean's question in terms of merchant exposure. So the last acquisition, the 18-megawatt hydro facility in Chile, is like
that's fully merchant, right? And then Energfa Llaima, those assets are now merchant as well, is that right?
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AUGUST 04, 2021 / 2:00PM, INE.TO - Q2 2021 Innergex Renewable Energy Inc Earnings Call
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Okay. So you're going to put like several merchant facilities together, and then market it together as a, I guess, a more stable energy source to...
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Okay. Got it. And then just a quick question on the last acquisition, the 18-megawatt Licßn hydro facility.
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Can you give a bit of background on that sales process? Like was it a distressed asset? Or was it a like competitive process? The reason I ask is, I
know you assumed a very conservative power price, but using the $35 power price, I think the debt -- the implied debt is about like 11x EBITDA.
And I think the press release indicated that some of the purchase price went to pay down debt. So I just want to try to understand some background
on the sales process?
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Okay. That's great color. And then just one last question before I get back in the queue. Your Investor Day on September 15. I don't remember the
last time you had an Investor Day. This might be the the first, or...
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Yes, I was trying to think back to see if you had one previously. But yes. So that's your first Investor Day. So should we be expecting any kind of new
announcements? Or is this more of an update on strategy? Could you just give some color on what we should expect on the Investor Day?
Question: Benjamin Pham - BMO Capital Markets Equity Research - Analyst
: Just a couple of questions. BC wildfires, is that impacting any of your other assets?
Question: Benjamin Pham - BMO Capital Markets Equity Research - Analyst
: Okay. And then going back to Texas Shannon, Flat Top, if you end up looking to sell these assets. Let's say that's the relative -- would you consider
adding any other Texas assets in the mix maybe to improve the sale price?
Question: Benjamin Pham - BMO Capital Markets Equity Research - Analyst
: Okay. Makes sense. You mentioned Hydro-QuTbec in some of your commentary. Could you maybe share any sort of progress year-to-date on
projects that you're looking at? Will the HQ anything you've agreed on a lot, did not agree on? Did you pass on some projects? Any additional color
would be helpful.
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