RIO DE JANEIRO (Reuters) – Electric company Neoenergia recorded net income of 1.3 billion reais, up 57% from the same period last year, the company said in its balance sheet on Monday.
Earnings before interest, taxes, depreciation and amortization (Ebitda, its acronym in English) of the company, controlled by Spanish Iberdrola, advanced 62% to 2.9 billion reais.
The electric company, which has generation, distribution and transmission operations, also reported revenues of 11.62 billion reais between July and September, an increase of 49% year-on-year.
“The results reinforce the path we are planning for 2021, with a focus on performance and efficiency, service quality and the realization of profitable investments,” said the president of the electric company, Mario Ruiz-Tagle, in a note.
“The advance of vaccination is allowing the return to our offices, gradually returning to face-to-face activities.”
Neoenergia also reported investments (Capex) of 6.4 billion reais in the first nine months of the year, an increase of 51% versus the same period in 2020, due to the advance of transmission and wind power projects.
The company reiterated that it maintains its investment pace to triple installed wind power capacity, reaching 1.6 GW by 2022 as part of the company’s decarbonization strategy.
The works of its two largest wind farms in the country continue to advance and generate sustainable development, said the company.
The electricity company also detailed advances in the works and anticipation of the Chafariz Wind Complex (PB), which entered into early operation with 53 wind turbines, corresponding to 184 MW of installed capacity. The project will have a total installed capacity of 471.2 MW when completed.
Regarding the Oitis wind farm, in the states of Bahia and Piauí, which will have a capacity of 566.5 MW, Neoenergia highlighted that the works have started in the 12 parks and more than 62% of the foundations are completed.
In a statement, Ruiz-Tagle also highlighted that “Termopernambuco’s reliability and availability also contributed significantly to the Brazilian energy matrix in this quarter, allowing for an expansion of energy supply and contributing to the company’s results”.
(By Marta Nogueira)
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