Brazil's Neoenergia eyes 150% generation gain

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Thursday, August 21, 2014

Brazilian power firm Neoenergia will increase its installed generating capacity by 150% over the next five years, as large-scale hydroelectric projects come online.

In an operations report, the company said its generation park would increase to 4.05GW over the period from 1.63GW today.

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Among the plants expected to begin operating are hydroelectric facilities Teles Pires (1.82GW), Belo Monte (11.2GW) and Baixo Iguaçu (350MW).

The project pipeline also includes the Calango 6 (30MW), Santana I (30MW) and Santana 2 (24MW) wind farms.

Capacity growth corresponds to the firm's participation in each project, the report said.

Neoenergia posted a 97% year-on-year fall in second quarter profit to 6.8mn reais (US$3mn), due to losses in its distribution segment.

The Rio de Janeiro-based firm distributes energy to more than 8mn consumers via subsidiaries Celpe, Coelba and Cosern.