Engie Brazil Energia reports 33% surge in Q3 net profit

Wind turbines. Author: Vik Walker. License: Creative Commons, Attribution 2.0 Generic.

November 5 (Renewables Now) - The Brazilian energy unit of France’s Engie SA (EPA:ENGI) saw its third-quarter (Q3) net profit jump by 32.8% year-on-year to BRL 475.4 million (USD 128.3m/EUR 112.9m).

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 43.5% on the year to BRL 1.02 billion, with an EBITDA margin of 41%, representing a reduction of two percentage points compared with Q3 2017. Net operating revenue surged by 50.4% to BRL 2.49 billion.

During the three month period, the plants operated by Engie Brasil Energia generated a total of 9,762 GWh, or 4,421 average megawatts (MWa), which is 8.4% higher than the production in the same quarter of 2017.

Engie Brazil Energia currently operates 9,577 MW of installed power generating capacity, including 7,856.3 MW wholly-owned by the company and the rest being jointly-owned assets. The majority of the capacity, about 8,102 MW, comes from large hydropower plants (HPPs), while the remainder relates to thermal, wind, solar, biomass and small HPPs.

On October 6, the sixth out of 11 wind farms within the Campo Largo wind power complex started commercial operations. Thus, the complex now has an installed capacity of 178.2 MW and will reach a total of 326.7 MW when the remaining five parks are completed. This is just Phase I of a larger project that has the potential for harnessing 656.7 MW in total.

(BRL 1.0 = USD 0.270/EUR 0.237)

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