Innergex Renewable Energy Inc Q3 2021 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 just want to start with a few questions on Hillcrest Solar. So I think the budget has been kind of creeping up in the last 2 quarters. Can you just give a bit of color as to what's causing the cost increase and delay?

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : Okay. Could you just repeat what was the liquidated damages received? And will there be anything recognized in Q4?

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : Okay. My next question relates to Curtis Palmer. I think there was roughly an earn-out provision that has a cap of about $30 million. And I think it relates to the New York ISO market pricing in 2023, 2024. But I believe the PPA at Curtis Palmers goes out to 2026. Can you just give a bit of color as to what the earn-out provision relates to and under what circumstances would you need to pay some earn out?

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : Okay. And then just one last question. You mentioned power prices are higher. You have some merchant power press exposure in Chile, Texas and I think other regions. Is this -- like do you see an opportunity to lock in higher prices by entering into contracts? Or do you want to keep benefiting short-term from some of the high merchant prices? You did mention that you want to add batteries in Chile. And obviously, that's -- that would give you some flexibility to take advantage of price differences during the day. But can you just comment on whether this is a good environment to lock in prices?

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : That's great news for Chile.