Earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped 62% to R$1,976M on net operating revenues 11% higher at R$5,385M. Copel’s operating earnings for the year lept 152% to R$728M compared to the year before.
The company’s 18 generation assets of 4.55GW, which are dominated by 17 hydro plants, produced 10,358GWh of power last year. Copel, based in Parana state, also noted that it purchased 4665GWh from the neighbouring Itaipu plant.
Copel is majority holder in the JV concession to build a 362MW hydro plant at Maua on the river Tibagi in Parana state. The JV is owned 51: 49 with Electrosul. The partners have a 30 year concession to build and operate the plant to supply power at an average of 192MW committed output for payment at R$112.96 per MWh. Supply is to start January 2011.
In the auction last October in which it won the concenssion, Copel also acquired for distribution hydro power from other sources. The 30-year contract will see it take 57.7MW of hydro for paqyment at R$120.86 per MWh from January 2011.
