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Algonquin sees up to $55 mln hit as Texas freeze hits wind farms

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Feb 19 (Reuters) - Canada's Algonquin Power & Utilitiessaid on Friday that some of its wind farms in Texaswere hit by the deep freeze that has engulfed parts of theUnited States, causing power outages in the biggestenergy-producing state.

Freezing temperatures stilled wind farms and knocked outpower to more than four million people in Texas. It is notexpected to relent until the weekend.

Algonquin said it expects the potential hit from the deepfreeze on the company's adjusted core earnings for this year tobe between $45 million and $55 million, or about 5% to 6% of2019's earnings.

The company said it has declared force majeure on contractsand is assessing other potential mitigating options. (https://refini.tv/3dw9Wim)

Another energy provider Innergex Renewable Energy had alsosaid on Wednesday that its wind farms in Texas had been hit bystorm, leading to a potential financial impact of up to C$60million ($47.23 million).

Many U.S companies, including FedEx Corp and GeneralMotors Co, were forced to temporarily shut operations dueto the winter storm.(Reporting by Rithika Krishna in Bengaluru; Editing by ShaileshKuber)