Statkraft Peru recorded almost 50% growth in the first half of 2016

09.09.2016 17:30 | pressrelease

Statkraft Peru invoiced USD 85 million during the first half of 2016, which represents an increase of more than 47% compared to the same period in 2015. The company, responsible for the operation of nine hydropower plants and more than 920 km of transmission lines in the country.

During the first half of 2016, Statkraft Peru recorded an EBITDA (earnings before taxes, taxes, depreciation and amortization) of USD 45 million, which represents a 74% increase compared to the first half of 2015. 

Alvaro Porturas, Chief Financial Officer of Statkraft Peru, remarked that the power industry around the world is being affected by power oversupply and low prices. This situation has driven Statkraft to strengthen its competitiveness in Europe and in the countries where it operates. “In view of the falling power prices around the world, and the current power oversupply in the Peruvian market, Statkraft Peru has managed to reach these figures mainly due to the start-up of the new Cheves Hydropower Plant, the efficiency programs launched by the company and new power supply agreements,” he stated.

“These results were possible due to the joint and aligned efforts of the different areas within our organization, which fills us with pride and drive us to keep on searching for other opportunities for efficiency and maximize the profitability of our assets. Our value proposal seeks to contribute to the development of different economic activities in the country through the generation of clean and renewable energy,” concluded Porturas.

Statkraft Peru is part of the Statkraft Group, a leading company in hydropower internationally and Europe's largest generator of renewable energy. In Peru, the company has an effective capacity of 450 MW of 100% hydropower, equivalent to 5% of the total power production in the country. Additionally, the company holds a significant share in the transmission business in the central highlands of Peru and to the north of Lima, with the operation and maintenance of more than 920 km of transmission lines and 1050 MW of transformation capacity.