CPFL Energia pegs capex through 2013 at US$2.10bn
Bnamericas Published: Thursday, March 05, 2009
Brazilian power holding company CPFL Energia's (NYSE: CPL) estimated capex through 2013 is 5bn reais (US$2.10bn), CEO Wilson Ferreira Junior announced Thursday. Of the total, 4.2bn reais will go to distribution and the remainder to generation. CPFL's capex this year will exceed 1.2bn reais, with 738mn reais for distribution, 429mn reais for hydro generation and 68mn reais for thermo generation, the executive said in a webcast. Last year's capex totaled roughly 1bn reais, Ferreira added. One hydro project under construction is the 436MW Foz do Chapecó plant, which is 60% complete and on time, the CEO said. The 1.33bn-real project is due to come online next year. CPFL holds a 51% stake in the project, federal energy company Furnas 40% and power company CEEE the remaining 9%.
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