IEnova sees marginal Q2 profit drop
Mexican firm IEnova, the local subsidiary of US-based Sempra Energy, saw its profits shrink marginally in the second quarter.
Net profits for the period were US$34mn, down from US$36mn in 2Q15, the Mexico City-based firm said.
Revenue dipped to US$139mn from US$143mn.
The firm's Los Ramones Norte pipeline has been in operation since February and the Sierra Juárez wind farm (pictured) entered operations in June 2015.
During the quarter, IEnova was awarded two natural gas pipeline contracts by Mexico's state utility CFE, the US$1.2bn, 800km Texas-Tuxpan undersea line, which the company's JV with TransCanada, Marina del Golfo, will build, and the Empalme pipeline branch, which IEnova's subsidiary Gasoducto de Aguaprieta will develop.
The company's gas segment saw pre-tax revenues of US$61.7mn, up from US$59.7mn in 2Q15.
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