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NEOENERGIA S.A.

(NEOE3)
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Neoenergia S A : Undertaking located in the Sertão of Paraíba (Hinterlands of Paraíba) has the first 10 wind tu ...

07/30/2021 | 04:39pm EDT

Undertaking located in the Sertão of Paraíba (Hinterlands of Paraíba) has the first 10 wind turbines in operation, delivered 17 months before the start of the contract in the Regulated Market

Chafariz Wind Complex (PB)

Neoenergia started the commercial operation of the Chafariz Wind Complex, in the Sertão of Paraíba. As of today (7/29), the first 10 wind turbines of the enterprise are in full operation and have an installed capacity corresponding to 34.65 MW. The delivery is 17 months ahead of the beginning of the validity of the contract in the Regulated Market.

The test phase of the other wind turbines is proceeding according to schedule, and the company will keep the market informed about the news.

In total, the Complex will have 471.25 MW of installed capacity, with 61% of the energy allocated to the Regulated Market (ACR) and 39% to the Free Contracting Environment (ACL). The full implementation is expected to be completed by the end of this year, significantly ahead of the business plan and reinforcing Neoenergia's position in executing its strategic plan and its commitment to the rate of return on projects.

This phase was possible after the energization of the new Santa Luzia II substation and one transmission line. The undertakings were acquired by the company in lot 6 of the Transmission Auction, in December 2017, and delivered 21 months ahead of the regulatory agency's contractual deadline. With this, the projects contribute to the outflow of clean energy generation in the region, where the company already has three wind farms in operation, in addition to the Chafariz complex under construction.

About Chafariz

The Chafariz Wind Complex will have 15 farms, and is one of the largest wind power generation projects of Neoenergia in Brazil and of Iberdrola​ in Latin America. 136 turbines with a unit capacity of 3.465MW will be installed, one of the most modern in the market, which are currently in test phase.

Construction of the complex began in October 2019, ahead of the company's business plan. More than 1,400 jobs were generated, with approximately 40% being local labor. Besides contributing to generation through job creation, the company has carried out several actions to benefit the municipalities around Santa Luzia, such as holding training courses, installing photovoltaic panels in health units, refurbishing a school, and supporting the quilombola (residents of the quilombos, spaces built by black African slaves and African descendants escaping from slavery in search of freedom) community of Serra do Talhado.

Disclaimer

Neoenergia SA published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 20:38:04 UTC.


© Publicnow 2021
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Financials
Sales 2021 33 431 M 6 138 M 6 138 M
Net income 2021 2 575 M 473 M 473 M
Net Debt 2021 28 185 M 5 175 M 5 175 M
P/E ratio 2021 7,02x
Yield 2021 4,17%
Capitalization 19 081 M 3 512 M 3 503 M
EV / Sales 2021 1,41x
EV / Sales 2022 1,38x
Nbr of Employees 14 617
Free-Float 49,0%
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Number of Analysts 12
Last Close Price 15,72 BRL
Average target price 25,40 BRL
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Managers and Directors
Mario José Ruiz-Tagle Larrain Chief Executive Officer & Director
Leonardo Pimenta Gadelha Executive Director-Finance
José Ignacio Sánchez Galán Chairman
Marcelo José Cavalcanti Lopes Head-Operation & Maintenance
Isabel García Tejerina Independent Director
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