Electroandes Jan-Sep profit jumps 166% to US$15mn
Bnamericas Published: Tuesday, October 24, 2006
Peruvian generator Electroandes saw January-September 2006 net profits soar 166% to 47.6mn soles (US$14.8mn) from the year-ago period. Net sales rose 14% to 144mn soles and operating profit grew 50.5% to 75.3mn soles, the company told the Lima stock exchange (BVL). Increased sales to regulated clients and on the spot market were behind the revenue growth, according to Electroandes, which is owned by US company PSEG (NYSE: PEG). SUR CHICO THERMO PROJECT Meanwhile, the 160MW Sur Chico thermo project continues in the developmental stage, an Electroandes spokesperson said. Electroandes submitted an EIS to the energy and mines ministry early this year for the project. Additional details were not immediately available. Sur Chico would use gas from Camisea and be built in an area called Pampa de Mamay in the district of Lurín near the city gate where Camisea gas arrives via pipeline for distribution in Lima and Callao.
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