CEZ 9-mo EBITDA from power production/trade in Romania up 143%

BUCHAREST (Romania), November 8 (SeeNews) – Czech energy group CEZ said on Thursday its nine-month earnings before interest, taxes, depreciation and amortisation (EBITDA) from power production and trade in Romania jumped to 1.7 billion Czech crowns ($85.2 million/66.9 million euro) from 700 million crowns a year earlier.

The rise was mainly caused by increased electricity production due to a higher number of installed turbines at the Fantanele and Cogealac wind parks, CEZ said in its third-quarter report.

At end-September, the two wind parks comprised 213 wind turbines with a total power of 532.5 megawatts (MW). In the first nine months of 2012, they produced 656 gigawatt hours (GWh) of electricity, up by 45% on the year.

CEZ expects production at the wind parks to reach 990 GWh in 2012, down from 1,000 GWh projected in August.

CEZ's other operating segment in Romania, electricity distribution and sale, posted an EBITDA of 2.2 billion Czech crowns in the first nine months, up from 1.2 billion crowns a year earlier, mainly due to improved payment discipline of the Romanian railway operator CFR, the company said.

CEZ plans to produce 1.0 terrawatt hours (TWh) of electricity from renewable resources in Romania this year, up from 600 TWh generated in 2011.

In the first nine months, it produced 687 GWh from renewable sources in Romania, up 48% on the year. The rise was due to the gradual connection of the last 20 wind turbines in Fantanele and 73 turbines in Cogealac and the acquisition of a hydropower plant near Resita, in western Romania, which produced 31 GWh of electricity through September.

CEZ has been present in Romania since 2005.

(1 euro=25.4241 Czech crowns)

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