Total
0
Shares
Jade Power (TSXV:JPWR.UN) provides 2020 operational update
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Jade Power (JPWR.UN) is pleased to report record annual energy generation from its renewable energy projects
  • Energy generation for 2020 was 2% higher than the year ended December 31, 2019
  • For the fourth quarter of 2020, energy generation was 35,653 MWh compared to 39,994 MWh generated in the fourth quarter of 2019
  • The company does not expect any disruptions to their operations due to COVID-19
  • Jade Power is a trust that acquires interests in renewable energy assets in Europe and abroad
  • Jade Power (JPWR.UN) is trading flat at C$0.14 per share

Jade Power is pleased to report record annual energy generation from its renewable energy projects of 158,822 megawatt-hours for the year ended December 31, 2020.

Energy generation for 2020 was 2% higher or 3,559 MWh greater than the 155,263 MWh generated for the year ended December 31, 2019.

For the fourth quarter of 2020, energy generation was 35,653 MWh compared to 39,994 MWh generated in the fourth quarter of 2019.

Given the nature of the operations, energy generation fluctuates in accordance with weather conditions.

Colter Eadie, Chief Executive Officer of Jade Power, commented,

"2020 was a strong operational and financial year for us. We are very pleased with the record performance of our renewable asset portfolio and the financial improvements we have demonstrated over 2020. The financial position of the Trust has significantly strengthened over the last two years and management continues to focus on maximizing value to unitholders."

"Further, to date, we have not experienced any operational issues or disruptions related to the ongoing outbreak of COVID-19. All of our assets are operating normally and we do not expect any disruptions during this otherwise challenging time period," he added.

Jade Power is a trust that, through its direct and indirect subsidiaries in Canada, the Netherlands and Romania, has been formed to acquire interests in renewable energy assets in Romania, other countries in Europe and abroad that can provide stable cash flow and a suitable risk-adjusted return on investment. 

Jade Power (JPWR.UN) is trading flat at C$0.14 as of 2:04 pm EST.

More From The Market Herald
Xebec Adsorption (TSXV:XBC) pursues hydrogen strategy with HyGear acquisition

" PowerTap partners with Carbonomics to maximize carbon credit opportunities

PowerTap Hydrogen Fueling Corp., an investee company of Clean Power Capital Corp. (MOVE), has partnered with Carbonomics.
Robex Resources (TSXV:RBX) goes solar at Mali gold mine

" Eguana (TSXV:EGT) announces conversion of $2.5 million debentures and 1,150 Class F LP units into common shares

Eguana Technologies (EGT) announces the conversion of C$2.5 million in debentures and 1,150 Class F limited partnership units into common shares.
Altius Minerals acquires solar power royalty

" Solar Alliance Energy (TSXV:SOLR) closes $5.7 million marketed private placement of units

Solar Alliance Energy has closed its $5.7 million marketed private placement of 13,696,500 units.
Organic Flower (CSE:SOW) contemplates hydrogen sector investment

" Jericho Oil (TSXV:JCO) receives final approval for hydrogen technologies acquisition

Jericho Oil (JCO) has received final approval from the TSX Venture Exchange to acquire all assets of a California-based hydrogen tech company.