Chile’s Colbun grows 2021 revenue by 504% on sale deal, EBITDA down

January 28 (Renewables Now) – Chilean utility Colbun SA closed the fiscal yr 2021 with a internet revenue of USD 540.2 million (EUR 485.1m), up 504% year-on-year, largely on the again of the sale of its energy transmission enterprise, the corporate’s outcomes present.

Working earnings for the total yr stood at USD 1.44 billion, up 7% on the yr, because of greater costs within the spot market and the next common sale value in Chile. These earnings have been partially offset by decrease bodily gross sales to unregulated shoppers, pushed by an expired contract with mining firm Anglo American Plc (LON:AAL), Colbun mentioned.

Earnings earlier than curiosity, depreciation and amortisation (EBITDA) got here down by 24% to USD 520.2 million as excessive droughts in Chile considerably lowered hydroelectric technology. This prompted the utility to interchange hydro with gas-fired technology at greater prices.

Over the yr, Colbun produced 10,982 GWh of energy from its vegetation in Chile, together with renewables, marking a 9% lower.

In Peru, the place Colbun solely operates gas-fired plant, technology ranges elevated by 19% year-on-year to three,439 GWh.

Within the renewables section, Colbun’s most notable milestone was the beginning of building of the 778-MW Horizonte wind farm venture in Chile. The corporate’s 232-MW Diego de Almagro I and II photo voltaic initiatives have been 93% accomplished as of the fourth quarter of 2021.

The environmental allow for the 537-MW Jardin photo voltaic venture was granted in September, however Colbun’s board has not but accredited its building, the corporate mentioned.

(USD 1.0 = EUR 0.898)


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