The electric power arm of the flag oil company, YPF Luz, registered a new increase in the sale of renewable energy that exceeded 16% during the first quarter of the year. The start-up of its first solar park anticipates that the trend will continue in the same line in the coming months. Investments also increased by over 260% year-on-year.
The data comes from the last presentation of operating and financial results made by the firm, corresponding to the first quarter of the year. As detailed, the sale of green energy in the analysis period was 454 GWh, 16.7% higher than that reported in the same quarter of 2022, which was 389 GWh.
Regarding investments, the company disbursed a total of 73.6 million dollars in the quarter, which is equivalent to a jump of 262.2% compared to $33.4 million in the same period last year.
- 262%
- It is what the company’s investments increased, in year-on-year terms.
At the end of April, the company commissioned its first solar park, Zonda, located in the province of San Juan. During the second week of May the park had some 68.11 MW enabled out of the 100 MW it will have.
From the firm they communicated that they expect 100% of the authorization to be completed during this second quarter of the year, with which its impact on the generation and sale of energy will be reflected in the next quarterly report of YPF Luz.
The good performance of the firm’s renewable segment was underpinned by a jump in the load factor of its parks of 3.1%, which raised the average to almost 53%.
Despite the jump in the green segment, the company’s total energy sales contracted by 2.9% and closed the quarter at 2,664 GWh. The commercialization of thermal energy fell 6.1% in the period and this conditioned the general performance.
As they commented, the availability of thermal energy contracted by 7.4% in the quarter and closed at 84.1%. The Loma Campana II plant was out of service throughout the quarter due to forced maintenance.
YPF Luz: other high points of the quarter
According to what the company reported, they closed the study period with a total revenue of 109.7 million dollars, which means a drop of 3.5% year-on-year. In addition, Ebitda (income before taxes and depreciation) was almost 91 million dollars, which consolidates a jump of 2.1% compared to the same quarter of 2022.
The result for the period was about 49.9 million dollars, which means that the company had an increase of 49.6%, over the same period of 2022.
Regarding operating costs, the company registered an increase of 20% year-on-year. They specified that it was due to salary increases, social charges and maintenance, repair and maintenance costs.
The next YPF Luz wind farm
During the first months of the year, the company confirmed that it will build a new wind farm that will be located in the province of Córdoba. It will have a total installed capacity of 155 MW and it is expected to start operating during the last quarter of 2024.. It will have an associated CapEx of about 262 million dollars.
In the first quarter of this year, the work registered an advance of 2%, since the first tasks began to be carried out on the ground. From the company they detailed that the mobilization of personnel and equipment, preparation of land for workshops and opening of tracks began.
They also began with the geotechnical and geophysical studies associated with the foundations, roads and platforms on site. As well as the cabinet activities associated with the engineering and supply of critical equipment.
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