Hydro-Québec posts net income of $3.1B for 2015

Hydro-Québec says it is in talks with the Caisse de depot et placement and other partners about possible acquisitions abroad.

Utility's president says last few years exceptional and likely not replicable

Hydro-Québec posted net income above $3B for the second straight year. (Radio-Canada)

Hydro-Québec says it is in talks with the Caisse de depot et placement and other partners about possible acquisitions abroad.

The utility's president, Éric Martel, indicated a few weeks ago Hydro-Québec had set up a division to look into acquisitions and had a team dedicated to targeting the purchase of foreign-based energy companies.

Martel said today he has held discussions with the Caisse de depot and other financial partners. He did not want to elaborate.

He was speaking as Hydro-Québec released its financial results for 2015, a year in which it posted net income of $3.1 billion.

It was the second straight year the utility had topped the $3-billion mark.

Martel sought to temper expectations for the future, saying the last few years were exceptional and cannot be repeated eternally.