Brazil's WEG can grow on wind, solar energy markets - report
Jul 25, 2014 - Brazilian energy equipment maker WEG (BVMF:WEGE3) is able to focus its production on wind and solar power plants if the demand increases, investor relations manager Luis Fernando de Oliveira said yesterday, quoted by local energy news site Canal Energia.
The company can use its production capacity and increase its presence on markets which show intense activity, Oliveira said.
WEG already has contracts until the end of 2015 and has recently participated in a 400-kWp photovoltaic project of Neoenergia (SAO:GNAN3B) on the island of Fernando de Noronha.
On Wednesday, the company posted a net profit of BRL 227.9 million (USD 102.6m/EUR 76.3m) for the second quarter of 2014, up 11.2% on the year. In the first six months, net profit rose 14.7% to BRL 432.8 million.
Diana Hristova is our expert for Latin America. She has spent several years following the diverse industries in the region, the energy sector most of all. Now Diana is exploring Latin America’s huge wind, solar, geothermal and hydropower potential.