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POINTE-CLAIRE, QC, Feb. 4, 2021 /CNW Telbec/ - International technology group ANDRITZ has received an order from Mississagi Power Trust, a subsidiary of Evolugen by Brookfield Renewable, for the major rehabilitation of the G1 turbine and generator as well as electrical balance of plant for G1 and G2 at the Red Rock Falls Generation Station, located on the Mississagi River in the Algoma District of Ontario, Canada. The first unit rehabilitation will start in June 2022, final commissioning is expected in April 2023.
Photo credit: Evolugen by Brookfield Renewable (CNW Group/ANDRITZ Hydro Canada)
The scope of supply includes the design, manufacturing, transportation, erection, testing and commissioning of various new or refurbished turbine and generator components including an upgraded 28 MW Kaplan runner, new control and protection systems, and various new electrical balance of plant equipment.
GWh = gigawatt hours. Data source: Brookfield Renewable Partners.
In the company s earnings press release, CEO Connor Teskey said: 2020 was another year of significant growth for our business. Despite the economic challenges around the world, we delivered record results and continued to broaden our operations, as we look forward to a multi-decade opportunity to advance decarbonization and assist with the transition of global electricity grids to a more sustainable future.
Image source: Getty Images.
Thanks to higher power generation buoyed by organic growth and acquisitions, Brookfield Renewable s normalized funds from operation (FFO) per unit jumped nearly 23% in 2020. While the company s hydropower generation was in line with its long-term average rate, its wind and solar segments reported 51% growth in FFO during the year thanks to acquisitions like that of TerraForm Power.
Author Bio
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years. When he isn’t writing, he is usually out for a run, or relaxing to the music of the Grateful Dead.
Investors just starting a portfolio and building a solid foundation for the future should be investing throughout the market s ups and downs. Dollar cost averaging is a good way to do that, whether it s automated through a 401(k) or by using a disciplined approach with a brokerage account. This strategy buys you more shares when prices are lower, and fewer when valuations are higher.
Dam relicensing remains in limbo
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