AQN - Algonquin Investor update - delivering more capex less EPS

Algonquin Power (NYSE:AQN) released a summary of the Company's upcoming investor day this morning, with the detailed presentation and conference call planned to kick off at 9am ET; the Company noted plans for higher capex and lower earnings growth. During last year's investor day, Algonquin outlined plans to invest $9.4b over the subsequent 5-year period; today, the 5-year plan includes a $12.4b investment plan 70% of the current investment plan is focused on regulated industries, with the remaining spend flowing to the Renewable Energy Group Of note, three projects have been added to the 5-year plan 1) four Permian solar projects in agreement with Chevron (NYSE:CVX) 2) Blue Violet, a Michigan wind project 3) Riverbend, a wind and solar project in Illinois Algonquin expects the additional spend to result in 72-77c of EPS in 2022, growing at 7-9% during the subsequent 5-year period; this is compared to last year's estimate

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Algonquin Investor update - delivering more capex, less EPS