algonquin power  utilities corp said friday that it now forecasts lower earnings in 2022 as it faces challenging macroeconomic conditions and construction delays and expects these to continue into 2023 the canadian renewable energy and utility conglomerate reduced its adjusted net earnings estimate to a range of 66 cents and 69 cents a share from its previous range of 72 cents and 77 cents a share in particular algonquin power said it faces challenging macroeconomic conditions including higher interest rates and inflation that have driven up its cost of borrowing and operations it also faces delays in building and completing a number of its renewable energy projects these adverse conditions are expected to continue into 2023 and algonquin power said it is now evaluating its longerterm targets and financial expectations which it plans to share in early 2023