Brazilian utility company Neoenergia SA (BVMF:NEOE3) registered a net profit of BRL 1.2 billion (USD 237.33m/EUR 215.32m) in the first quarter of this year, a figure in line with the same period last year.
Cash earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 14% to about BRL 3.6 billion, while EBITDA Cash went up 7% to BRL 2.6 billion.
The company emphasised the delivery of projects in its Renewable businesses, including the entry into full operation of the 149.2-MWp Neoenergia Luzia solar plant in March, which marked the company’s debut in centralised photovoltaic (PV) generation.
In the first three months of the year, the Brazilian subsidiary of Spain’s Iberdrola SA (BME:IBE) invested BRL 130 million in wind farms, BRL 6.3 million in hydropower and BRL 1.6 million in solar energy.
As of now, Neoenergia has a total of 42 wind farms in operation for a combined installed capacity of 1,389 MW. Together with Neoenergia Luzia, the company’s wind and solar power generation was 943 GWh, 84.71% up year on year.
(BRL 1 = USD 0.198/EUR 0.179)
