Neoenergia net profit rose 57% in the third quarter to R$1.3 billion; See balance sheet details

electricity new energy (NEOE3) registered Net profit 1.3 billion riyals, up 57% over the same period last year, the company reported in its balance sheet on Monday.

Earnings before interest, taxes, depreciation and amortization (EBITDA)EBITDAThe company, which is controlled by the Spanish Iberdrola, advanced 62% to 2.9 billion riyals.

The Electricity Company, which has generation, distribution and transmission operations, also recorded revenues of 11.62 billion riyals between July and September, an increase of 49% year-on-year.

“The results reinforce the path we plan for 2021, focusing on performance, efficiency, quality of service and making profitable investments,” said Mario Ruiz Tagle, president of the electric company.

“The progress of vaccination allows for a return to our offices, and a gradual return to face-to-face activities.”

a new energy Investments are still reported (Capital expenditures) 6.4 billion riyals in the first nine months of the year, an increase of 51% compared to the same period in 2020, due to the progress of transport and wind energy projects.

The company reiterated that it is maintaining its investment pace to triple installed wind power capacity to 1.6 gigawatts by 2022 as part of the company’s decarbonization strategy.

The company said the business of the country’s two largest wind farms continues to advance and generate sustainable development.

a electrical They are also detailed on the progress of the business and forecast Chavarez Wind Farm (PB), which went into early operation with 53 wind turbines, equivalent to 184 megawatts of installed capacity. The project will have a total production capacity of 471.2 MW upon completion.

Regarding the Oitis wind farm, in the states of Bahia and Piauí, which will have a capacity of 566.5 MW, Neoenergia has confirmed that works have begun on 12 parks and that more than 62% of the foundations are complete.

In a statement, Ruiz Tagle also highlighted that “Termopernambuco’s reliability and availability also contributed significantly to the Brazilian energy matrix in the quarter, allowing for the expansion of power supply and contributing to the company’s results.”