(Montreal) The Quebec producer of renewable energy Borax has undergone net loss attributable to shareholders of 10 million in the second quarter, despite an increase in its production.
The net loss attributable to the shareholders of the Montreal company amounted to $ 0.10 for the quarter which ended on June 30.
For the same period last year, Borax reported a net profit attributable to shareholders of 11 million, or $ 0.10 per share.
Revenues from the sale of electricity and supplements of remuneration amounted to 185 million, up compared to 180 million in the second quarter of 2024.
Boralex saw its electricity production increase by 14 % from one year to the second in the second quarter, while it went from 1323 GWh to 1505 GWh.
The company attributes this increase to the good performance of its assets in North America and to the contribution of its new sites put into service in Europe.
However, production has remained 2 % lower than early production, due to unfavorable wind conditions in Europe and the United States.
In a press release, the president and chief executive officer of Borax, Patrick Decostre, said that the company is actively working to submit projects to the next tenders planned this summer in France and this fall in Ontario and the United Kingdom.
