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Enel Green Power posts total revenues of 1.4 billion Euro in H1

Total revenues amounted to 1,410 million euros, a decrease of 19 million Euro compared with the first half of 2013 (minus1.3 per cent) due to the reduction of 21 million Euro in other revenues (70 million Euro in the first half of 2013), partly offset by the increase of 2 million Euro in revenues from the sale of electricity (equal to 1,359 million Euro in the first half of 2013).

2014-07-31 12:36:41

The decline in "other revenues" is primarily attributable to the recognition, in the first half of 2013, of the effect of the disposal of a controlling interest of 51 per cent in Buffalo Dunes, which led to the recognition of a gain of 40 million Euro, partly offset by an increase in indemnities received in Latin America (5 million Euro)

The net installed capacity of the Enel Green Power Group as of June 30th, 2014 amounted to 9.1 GW, an increase of 0.5 GW (+5.8 per cent) compared with June 30th, 2013, mainly in the wind sector.
Francesco Venturini, Chief Executive Officer and General Manager of Enel Green Power, remarked: "With 400 MW of new installed capacity in the first half of 2014, Enel Green Power has strengthened its growth even further, achieving 70 per cent of the capacity that we planned to install by 2018 already in the first year of the new plan. It is our geographically and technologically diversified growth, which enables us to counter the challenges faced in our core European markets, that is the keystone of this company's strategy for success.

The results we have posted despite a number of critical issues in the more mature markets, which impacted performance during the period, enable us to confirm our ability to achieve the targets we have announced for the year as a whole."

Net installed capacity as of June 30th, 2014, amounted to 5.9 GW in the Europe area (in line with June 30th, 2013), 1.3 GW in the Latin America area (+30.0 per cent on June 30th, 2013) and 1.9 GW in the North America area (+11.8 per cent on June 30th, 2013).

Compared with December 31st, 2013, Enel Green Power's net installed capacity increased by 0.3 GW (+3.4 per cent), primarily from wind, taking into account the 45 MW planned decommissioning mainly related to cogeneration in Iberia.

The growth posted in Latin America and North America is essentially attributable to the entry into service of wind farms.

Power generated by Enel Green Power in the first half of 2014 amounted to 16.5 TWh, up 1.3 TWh (+8.6 per cent) compared with the corresponding period of 2013.
The growth in the first half of 2014 is primarily attributable to the increase in wind generation (+1.2 TWh), in line with the expansion in installed capacity, and the increase in geothermal generation (+0.2 TWh) as well as solar generation (+0.1 TWh) as a result of greater resource availability and improved use of plants.

Electricity generation amounted to 11.1 TWh in the Europe area (+4.7 per cent on the first half of 2013), 1.9 TWh in the Latin America area (essentially in line with the first half of 2013) and 3.5 TWh in the North America area (+29.6 per cent on the first half of 2013).

The average load factor in the first half of 2014 (the ratio of actual generation to theoretical output) was 43.0 per cent (42.5 per cent in the first half of 2013).

The improvement in the hydroelectric load factor is attributable to the greater availability of water in Italy in 2014 compared with 2013 levels, while the improvement in the load factor for wind power reflects both the greater availability of wind resources, mainly in Iberia, and the high load factor of plants installed in 2013.



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