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: Robert Hope - Scotiabank Global Banking and Markets, Research Division - Analyst
: The list of capital deployment since last quarter seems a little bit longer than normal. Is this kind of just when the opportunities
presented themselves or is the pipeline that you're seeing out there right now stronger than normal? And if it is stronger than normal,
kind of what geographies and kind of asset generation types are most interesting?
Question: Robert Hope - Scotiabank Global Banking and Markets, Research Division - Analyst
: That's very helpful. And then just diving a little bit deeper into that development point that you put there. If we take a look at 2021,
you put roughly 1,000 megawatts into service from your development pipeline. Is this the new run rate? Could we see this even
increase further just given how much you've kind of increased the overall backlog there? Kind of what's the targeted amount of
capital and megawatts you want to see put into service per year?
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: So Connor, you were -- you touched on those 3 buckets in terms of capital deployment. I know in the past you guys were more
focused on acquiring operating assets and then more recently, there's been a larger focus on acquiring, I guess, development assets
or platforms. Given your return expectations on Urban Grid, should we assume that going forward, you'll be acquiring more
development platforms and assets rather than operating assets?
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Okay. That's great color. And just one quick follow-up. You mentioned that you're doing more development due to demand from
corporate PPAs. So with the elevated power prices, are you kind of looking at opportunities to develop on a merchant basis and kind
of benefit from near or medium-term power prices before maybe contracting a longer term at a -- to derisk assets? Is that a strategy
now in terms of let's do merchant for a few years and then look to contract later on?
Question: Benjamin Pham - BMO Capital Markets Equity Research - Analyst
: The Hydro-Quebec 40 year contract, I don't think I've seen any recontracting last that long duration in inventory. So I'm curious, has
that caused you to change more to the pause of the duration or operating asset values in your models or in terms of value assumptions
and value for capacity, value for the hydro assets?
Question: Benjamin Pham - BMO Capital Markets Equity Research - Analyst
: Okay. And maybe a question for Wyatt and on the $1 billion of financing looks like -- firms up a lot of that wedge of the funding
program that you have. So should we view this more as supporting that funding or is some of those wedges moving around?
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