| Source: Scatec Solar ASA

Oslo, 26 April 2019: Scatec Solar continued to deliver strong growth and solid financial results in first quarter 2019 with proportionate revenues of NOK 1,528 million (572), and EBITDA of NOK 315 million (109). Power production reached its highest level ever with 133 GWh on proportionate basis, almost doubling production compared to the same period last year.

First quarter revenues and EBITDA increased almost threefold compared to the same quarter last year. This reflects continued high construction activities in the Development & Construction segment with revenues of NOK 1,297 million (417), EBITDA of NOK 159 million (15) and a gross margin of 14%. In the Power Production segment, it was the first full quarter of production for the new plants in Brazil and Malaysia which both contributed to increased revenues and EBITDA.

“We continue our solid deliveries in the first quarter with high construction activity on four continents and significant project development activity. With the first 65 MW in Egypt grid connected in April, our installed capacity reached 649 MW, and we plan to grid connect substantial new capacity in the next few quarters. With continued strong market growth, we will utilise our market position to further grow a diversified business”, says CEO of Scatec Solar Raymond Carlsen.  

Scatec Solar's first quarter consolidated revenues were NOK 327 million (289), and EBITDA reached NOK 242 million (150).

For further details, please see the attached first quarter report and presentation.

A presentation of the results will be held today at 08.00 at Høyres Hus, Stortingsgata 20, Oslo. The presentation and Q&A session can also be followed through a live webcast from our website www.scatecsolar.com.

For further information, please contact:

Mikkel Tørud, CFO                
tel: +47 976 99 144      This email address is being protected from spambots. You need JavaScript enabled to view it.

Ingrid Aarsnes, VP Communication & IR
tel: +47 950 38 364      This email address is being protected from spambots. You need JavaScript enabled to view it.

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.7 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.

With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatecsolar.com.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Read more: First quarter results 2019 – Continued strong...

| Source: ALBIOMA

multilang-release

Press release

Paris La Défense, 23 April 2019

Quarterly financial information at 31 March 2019

Continued revenue growth (+11%)

Strong increase in the solar power business (+27%)

Solid performance of the thermal installations in France, Brazil and Mauritius

The increase in the Group's revenue in the first quarter of 2019, up 11% (up 9% excluding the impact of changes in fuel prices), is underpinned by:

  • the commissioning of new thermal production facilities in France (Albioma Galion 2 in Martinique and Albioma Saint-Pierre on Reunion Island);
  • the additional remuneration related to smoke treatment equipment (IED);
  • the dynamism of the Solar power business, in mainland France and overseas.
  1st quarter 20191 1st quarter 20181 Change (%)
France - Thermal Biomass 99.8 91.2 9%
France - Solar Power2 12.5 9.8 27%
Brazil 2.3 1.5 56%
Holding company and other 1.4 1.7 -18%
Total 115.9 104.2 11%

1.    Unaudited figures, scope including Eneco France in 2019 (acquired in December 2018) and the anaerobic digestion business in 2018 (sold in December 2018).

2.    Including Spain and Italy.

France

Thermal Biomass

Strong plant performance, supported by the commissioning of two new production facilities

Revenue for the Thermal Biomass business in France rose by 9% compared to the first quarter of 2018, to €99.8 million. Stripping out the impact of changes in fuel prices, revenue for the quarter increased by 7% compared to the first quarter of 2018, supported by the commissioning of Albioma Galion 2 and Albioma Saint-Pierre, the additional remuneration related to fume treatment facilities as part of the work to bring the facilities into line with the standards of the IED Directive, and the good performance of all plants.

The Group's new production facilities, Albioma Galion 2 in Martinique, and the combustion turbine of Saint-Pierre on Reunion Island, performed well and were well solicited by EDF during the beginning of the year.

The availability rate reached 82.1% in the first quarter of 2019, taking into account the significant scheduled shutdowns on the Caribbean power plants, largely offset contractually.

The electricity production of the thermal power plants reached 457 GWh, compared with 485 GWh in the first quarter of 2018, due to the scheduled shutdowns of our units and a drop in the call rate in Guadeloupe.

Solar Power

Revenue rising significantly and very good performances of all facilities

Revenue for the Solar Power business totalled €12.5 million, up 27% on the first quarter of 2018. This increase is the result of favourable sunshine conditions in all areas, the commissioning of new power plants on Reunion Island and Mayotte, as well as the integration of the photovoltaic fleet in mainland France acquired last December, with a capacity of 17 MWp (acquisition of Eneco France, renamed Albioma Solaire France). The assets acquired performed very well during the first quarter.

Production reached 29 GWh in the first quarter of the year. On a like-for-like basis (excluding Albioma Solaire France), production reached 24 GWh (compared with 21 GWh in the first quarter of 2018).

Brazil

Optimisation of production between the sugar harvesting campaigns

Between the sugar harvesting campaigns in the first quarter, the three plants, Albioma Rio Pardo Termoelétrica, Albioma Codora Energia and Albioma Esplanada Energia, acquired in December 2018, completed their annual maintenance. Albioma Codora Energia also continued to produce at the beginning of the year, thanks to the use of excess bagasse stocks from 2018. Albioma Rio Pardo Termoelétrica also operated in February and March thanks to the purchase of external biomass, thus making it possible to benefit from high electricity prices during this period. Last year, the plant did not operate between harvesting campaigns.

The business recorded revenue of €2.3 million (compared with €1.5 million in the first quarter of 2018).

Mauritius

Excellent availability of the plants

The availability of the Mauritius facilities reached 98%. Production is up 28% to 341 GWh, compared with 267 GWh in the first quarter of 2018.

Confirmation of objectives

The Group confirms its 2019 guidance for EBITDA (€168 to €178 million) and net income, Group share (€38 to €44 million).

Next on the agenda: Annual General Meeting, 27 May 2019 at 3pm.

About Albioma Contacts
An independent renewable energy producer, Albioma is committed to the energy transition thanks to biomass and photovoltaics.

The Group, which is established in Overseas France, Mauritius and Brazil, has developed a unique partnership for 25 years with the sugar industry, to produce renewable energy from bagasse, a fibrous residue from sugar cane.

Albioma is also the leading generator of photovoltaic power overseas where it constructs and operates innovative projects with integrated storage capabilities.

Investor
Julien Gauthier
+33 (0)1 47 76 67 00

Media
Charlotte Neuvy
+33 (0)1 47 76 66 65
This email address is being protected from spambots. You need JavaScript enabled to view it.

   
Albioma shares are listed on NYSE EURONEXT PARIS (sub B) and eligible for the deferred settlement service (SRD) and PEA-PME plans (ISIN FR0000060402 - ticker: ABIO). www.albioma.com

 

Read more: ALBIOMA : Quarterly financial information at 31...

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Read more: IDA Regional Window Program...

| Source: RGS Energy

DENVER, April 11, 2019 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ: RGSE), the exclusive worldwide licensee of POWERHOUSE™, an innovative and visually stunning solar shingle system using technology developed by The Dow Chemical Company, will hold a business update call on Monday, April 15, 2019 at 4:30 p.m. Eastern time to discuss POWERHOUSE™. The company will file its Annual Report on Form 10-K prior to the call.

Date: Monday, April 15, 2019
Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)
Toll-free dial-in number: 1-888-394-8218
International dial-in number: 1-323-701-0225
Conference ID: 8423554
Webcast: Click here

The conference call will be webcast live and available for replay via the investor relations section of the company's website at RGSEnergy.com.

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through April 22, 2019.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 8423554

About RGS Energy
RGS Energy (Nasdaq: RGSE) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company is the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company.

For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites referred to above in this press release is not incorporated by reference into this press release.

RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”

POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it.

Denver, Colorado, UNITED STATES

  http://www.rgsenergy.com

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Read more: RGS Energy Sets Business Update Conference Call...

| Source: Avista Corporation

SPOKANE, Wash., April 18, 2019 (GLOBE NEWSWIRE) -- Avista (NYSE: AVA), a leader in clean electricity, today announced its goal to serve its customers with 100 percent clean electricity by 2045 and to have a carbon-neutral supply of electricity by the end of 2027. This announcement bolsters Avista’s long-standing history of and well-established approach to providing clean, reliable and affordable energy to the customers and communities it serves.  

“We’re proud to announce this 100 percent clean electricity goal as an important step forward in caring for our environment while continuing to meet the energy needs of our customers and communities today and well into the future,” said Dennis Vermillion, president of Avista. “Since Avista’s founding on clean, renewable hydro power in 1889, we’ve served our customers with an electric generation resource mix that is more than half renewable, allowing us to keep our carbon emissions among the lowest in the nation.

“Avista has always been committed to balancing reliability and affordability while maintaining responsibility for our environmental footprint, and our actions demonstrate these values. Just in the last three years, we’ve implemented three renewable energy projects on behalf of our customers. Our Community Solar project in Spokane Valley, Wash., Solar Select project in Lind, Wash. and the Rattlesnake Flat Wind project in Adams County, Wash. together have allowed us to add to the clean electricity we already provide, meet the energy needs of our customers without increasing their bills and drive economic vitality in these communities.

“Avista’s clean energy focus is not limited to the electric generation resource mix. We view clean energy as a key element in driving economic development and shaping the sustainable communities of the future. Avista has created companies like Itron, Ecova and Relion that play a role in supporting clean energy and the efficient use of electricity. We serve as a founding partner of Urbanova, Spokane’s Smart City living laboratory that is testing smart city concepts and we’re creating an Ecodistrict in Spokane that will allow the company to not only shape how the grid of the future will operate but also define how buildings can be developed to operate and utilize energy in the most efficient manner.

“As we plan for the future, listen to our customers and continue to invest in renewable energy resources, we recognize the value of establishing a defined clean electricity goal. We are committed to continuing our investments in research, development and a smarter grid to support the trend of lower costs and improved technology that will enable a clean electricity future. We are well on our way to achieving our goal of 100 percent clean electricity and will continue to engage with our customers, partners and regulators to make this goal a reality,” Vermillion said.

Additional examples of Avista’s strong track record of environmental stewardship include:

  • Forty years ago, Avista was one of the first utilities in the nation to establish an energy efficiency program, and since this program started, customer electric usage has been reduced by 15 percent.
  • In the 1980’s, the company built the first utility-scale biomass wood-fired power plant, improving air quality where waste from the timber industry was otherwise burned onsite without emissions controls.
  • Avista has enabled customers to switch from gasoline-fueled vehicles to natural gas-fueled and electric vehicles, building infrastructure to supply a cleaner fuel for vehicles and contributing to reductions in greenhouse gas emissions from the transportation sector.

Learn more about Avista’s clean electricity goal and commitment to environmental stewardship at www.myavista.com/greener.

About Avista Corp.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides electric service to 388,000 customers and natural gas to 355,000 customers. Its service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.6 million. Alaska Energy and Resources Company is an Avista subsidiary that provides retail electric service in the city and borough of Juneau, Alaska, through its subsidiary Alaska Electric Light and Power Company. Avista stock is traded under the ticker symbol "AVA."  For more information about Avista, please visit investor.avistacorp.com.

This news release contains forward-looking statements regarding the company’s current expectations. Forward-looking statements are all statements other than historical facts. Such statements speak only as of the date of the news release and are subject to a variety of risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from the expectations. These risks and uncertainties include, in addition to those discussed herein, all of the factors discussed in the company’s Annual Report on Form 10-K for the year ended Dec. 31, 2018.

SOURCE: Avista Corporation

To unsubscribe from Avista’s news release distribution, send a reply message to This email address is being protected from spambots. You need JavaScript enabled to view it.   

Contact:                                                                                                        
Media:
Casey Fielder This email address is being protected from spambots. You need JavaScript enabled to view it.   
Mary Tyrie This email address is being protected from spambots. You need JavaScript enabled to view it.
Media line: (509) 495-4174    

Investors:
Jason Lang This email address is being protected from spambots. You need JavaScript enabled to view it.
(509) 495-2930

Spokane, Washington, UNITED STATES

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Read more: Avista builds on commitment to renewable energy...

Abstract

To what extent does immigration affect the economic institutions in destination countries? While there is much evidence that economic institutions in developed nations are either unaffected or improved after immigration, there is little evidence of how... See More + To what extent does immigration affect the economic institutions in destination countries? While there is much evidence that economic institutions in developed nations are either unaffected or improved after immigration, there is little evidence of how immigration affects the economic institutions of developing countries that typically have weaker institutions. Using the Synthetic Control Method, this study estimates a significant and long-lasting positive effect on Jordanian economic institutions from the surge of refugees from the First Gulf War. The surge of refugees to Jordan in 1990–1991 was massive and equal to 10 percent of Jordan's population in 1990. Importantly, these refugees were able to have a large and direct impact on Jordanian economic institutions because they could work, live, and vote immediately upon entry due to a quirk in Jordanian law. The refugee surge was the main mechanism by which Jordan's economic institutions improved in the decades that followed.  See Less -

Read more: How Mass Immigration Affects...

| Source: Scatec Solar ASA

Oslo, 11 April 2019: Scatec Solar and partners have grid connected and reached commercial operation for 65 MW of their 400 MW Benban project in Egypt. The Benban solar power plant is Scatec Solar’s largest project under construction, and the Company is the largest contributor to the 1.5 GW Benban site – the world’s largest solar park.

We have been a pioneer in Egypt since 2013 and have worked closely with the Government to support implementation of large-scale solar to increase the country’s share of renewable energy. Grid connecting our first solar power plant marks a major milestone for us. This is also our first power plant with bi-facial solar panels, capturing the sun from both sides of the panels to increase the total clean energy generation”, says Raymond Carlsen, CEO of Scatec Solar.

In April 2017, Scatec Solar with its partners KLP Norfund and Africa 50 signed a 25-year Power Purchase Agreements with the Government of Egypt for delivery of electricity from six solar plants, equal in size, totaling 400 MW. The estimated annual 870 GWh of electricity produced from Scatec Solar’s plants in Benban will avoid about 350,000 tons of CO2 emissions per year and provide energy for more than 420,000 households in Egypt. Scatec Solar expects to have completed all six power plants during second half of 2019.

For further information, please contact: 

Mikkel Tørud, CFO
Tel: +47 976 99 144

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.7 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.

With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatecsolar.com.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Read more: First part of Scatec Solar’s 400 MW solar power...



Abstract

Two successive waves of reform have fundamentally altered the structure and organization of Kenya's vibrant power sector, which boasts a tradition of strong technical and commercial performance. In the first wave -- beginning in 1996 and largely donor-driven -- policy and regulatory functions were separated from commercial activities; generation was unbundled from transmission and distribution; cost-reflective tariffs were introduced; and generation was liberalized. In the second wave -- beginning in 2002 and led by domestic reform champions -- the thrust of first-wave reforms was continued, with the strengthening of independent regulation, partial privatization of the generation company (KenGen), and establishment of complementary entities. Although the government retains majority ownership of the largest power utilities in the country (Kenya Power, ~51 percent; KenGen, ~70 percent), Kenya has been able to position itself as one of the foremost destinations in the region for private energy investment. The reforms have improved the operational efficiency of the sector, increased cost recovery, and captured a significant amount of private sector investment. At the same time, the state has remained an important investor, playing a pivotal role in expanding generation capacity, scaling up electrification at an exceptionally rapid pace, and leading diversification toward geothermal energy. Political influence in sector decisions remains significant, in planning and tariff reviews.
Show More
 
 
Read more: Learning from Power Sector Reform...

| Source: Scatec Solar ASA

Oslo, 12 April 2019: Scatec Solar ASA will release its first quarter results on Friday, 26 April 2019 at 07:00 (CET).

A presentation of the results will be held on the same day at 08:00. The location of the presentation is Høyres Hus (6th floor), Stortingsgata 20, Oslo. The presentation and Q&A session can be followed through a live webcast from our website on: https://webtv.hegnar.no/presentation.php?webcastId=97815133  

For further information, please contact:
Ingrid Aarsnes, VP Communication & IR
Tel: +47 950 38 364, This email address is being protected from spambots. You need JavaScript enabled to view it.

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.7 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.

With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatecsolar.com.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Read more: Invitation to presentation of Scatec Solar ASA's...


Abstract

China has impressed the world with its rapid economic growth over the past four decades, during which time it has increased its real income per capita by more than 25 times. However, the attendant environmental costs have also been significant, jeopardizing economic and social gains from growth. To move toward sustainable development and reduce the environmental impact of further economic growth, the Chinese government has started to prioritize green development and the building of an ecological civilization. China’s 13th Five-Year Plan (2016−2020) has upgraded the building of the ecological civilization to the level of national strategy — a policy target of top priority.According to the Ministry of Ecology and Environment (MEE), industrial parks (IPs) are the key source of industrial production and all new industrial projects are required to be operated within industrial parks (Zhang 2018). The growing concentration of industrial activities within IPs suggests that an increasing proportion of industrial pollution will be produced in IPs. Thus, promoting green development of IPs will be vital for the achievement of China’s and the world’s sustainable development goals.Effective management of IPs toward green development requires a well-functioning regulatory framework to provide standards, requirements, guidelines, and robust monitoring and evaluation (M&E) frameworks. Although China does not have a specific IP management law, a comprehensive regulatory framework is in place, covering different legislative levels including (from top to bottom in terms of their importance) laws, regulations, national policies, and standards and indicators. This regulatory framework covers multiple aspects of IP management, including requirements concerning the economic and environmental performances of IPs.This report conducts a comparative analysis between the Chinese green standards and the EIP Framework across all four dimensions—park management and economic, social, and environmental performance— to identify differences and share policy recommendations for further improvements of the Chinese standards.
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Read more: Enhancing China s Regulatory...

Complete Report in English

Official version of document (may contain signatures, etc)

  • Official PDF , 166 pages 4.0 mb
  • (All language versions and volumes across World Bank Repositories)

  • TXT *

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Read more: Greater Mekong Subregion Power...

| Source: Lietuvos energijos gamyba

multilang-release

Lietuvos Energijos Gamyba, AB identification code 302648707, registered office placed at Elektrinės str. 21, LT-26108 Elektrėnai, Republic of Lithuania (hereinafter referred to as the Company). The total number of registered ordinary shares issued by the Company is 648 002 629; ISIN code LT0000128571.

On 12 April 2019, the Ordinary General Meeting of Shareholders of the Company approved the Annual Report of the Company for the year 2018 and the Annual Financial Statements of the Company for the year 2018, audited by PricewaterhouseCoopers, UAB, the Company‘s auditor.

Information on the operational results of the Company for the year 2018:

LIETUVOS ENERGIJOS GAMYBA FINISHED 2018 WITH GOOD FINANCIAL RESULTS AND A NEW STRATEGY

Despite the unfavourable natural conditions and market unpredictability, last year Lietuvos Energijos Gamyba, a part of Lietuvos Energija group, managed to maintain decent financial performance indicators and provide reliable power regulation and reserve services. 

The sales income of Lietuvos Energijos Gamyba decreased by 14.5% and amounted to EUR 125.9 million due to the lower production volume and income from the regulated activity of Elektrėnai Complex. If compared to 2017, the adjusted EBITDA margin remained stable (34.4%) while profitability ratios, such as the margin of the operating profit, gross profit margin, net profit margin, and the return on equity have been significantly better due to higher sales revenue in Kaunas A. Brazauskas‘ HPP, improved commercial results in Kruonis PSHP, and effective management of the repair and maintenance expenses in Elektrėnai Complex. Lower amortization and depreciation costs as well as positive revaluation of the emission allowances also added up to the increased profitability. The net profit of the Company reached EUR 29.6 million – 44.5% more if compared to 2017.

„Last year, our performance was significantly affected by natural conditions and planned maintenance works. Compared to 2017, electricity production in Kaunas HPP has shrunk by one-fourth due to and arid summer. One of the units in Kruonis PSHP has been unavailable for half a year because of heavy maintenance works. In total, the amount of electricity produced in our plants decreased by one-fifth if compared to the previous year. However, due to favourable wholesale electricity prices in the power exchange market, our financial performance results remained positive“, explains Rimgaudas Kalvaitis, CEO at Lietuvos Energijos Gamyba.

According to him, 2018 has also been marked by an increasing scope of the ancillary services – the demand for power regulation services nearly doubled, requests for the secondary reserve have intensified. The company also successfully provided tertiary and strategic reserve services. “Providing effective and reliable ancillary services remains among our top priorities for the upcoming year as well”, comments R. Kalvaitis.

In 2018, a total of 0.88 TWh of electricity has been generated and sold in the power plants owned by Lietuvos Energijos Gamyba – 23% less if compared to 2017 (1,15 TWh).

At the end of 2018, Lietuvos Energijos Gamyba updated its strategy, adopting a document that reflects the ambitious strategy of Lietuvos Energija group LE 2030, announced last spring.  „Our mission and vision remain the same, with strategic generation laid down as the main priority of Lietuvos Energijos Gamyba. Maintaining, modernising and developing sufficient and reliable local power generation capabilities, we primarily aim to contribute to successful synchronization of the Baltic countries with the continental European network by 2025. Group‘s investments in both existing and new power generation facilities should reach EUR 600 million in the next 12 years“, – says R. Kalvaitis.

The updated Company‘s strategy foresees that Lietuvos Energijos Gamyba will also significantly contribute to the implementation of the overall Group‘s vision by developing innovative technologies and green energy generation capabilities. This is to be done by exploiting the Company’s owned hydropower capabilities in Kaunas and Kruonis, providing maintenance services for the RES power plants, and developing innovative solutions such as pilot projects of solar energy plants and energy storage systems within the available infrastructure. The Company continues preparation for the Kruonis PSHP modernisation project, considering possibilities to install a fifth hydro-unit. Last year, the project received partial funding from the European Commission for further infrastructure research and feasibility study.

Key interim Lietuvos Energijos Gamyba performance indicators for 2018:

  • The sales income of Lietuvos Energijos Gamyba decreased by 14.5% when compared to 2017 and amounted to EUR 125.9 million. It was mainly affected by the lower production volume and income from the regulated activity of Elektrėnai Complex.
  • The adjusted EBITDA decreased by EUR 8.9 million, compared to 2017, while the adjusted EBITDA margin remained comparatively stable – 34.4% (36.1% in 2017). The EBITDA has been negatively affected by the lower volume of regulated services at Elektrėnai Complex, yet partly compensated by the higher sales revenue in Kaunas A. Brazauskas‘ HPP and improved commercial results in Kruonis PSHP.
  • Profitability ratios, such as the margin of the operating profit, gross profit margin, net profit margin, and the return on equity have been significantly better in 2018 than in 2017. The Company‘s gross profit amounted to EUR 35.2 million while net profit reached EUR 29.6 million – 44.5% more than in the previous year. Net profit growth was mainly determined by lower amortization and depreciation costs as well as positive revaluation of the emission allowances.
  • In 2018, the company incurred EUR 21.0 million in operational expenses – 5.4% (EUR 1.14 million) more than in 2017. Increased maintenance expenses of the combined cycle unit in Elektrėnai Complex acted as the main reason for this. 
  • During 2018, the Company invested EUR 5.0 million in non-current tangible and intangible assets, the lion‘s share of which has been assigned for the major repair works in Kruonis PSHP. As a comparison, the number amounted to EUR 1.9 million in 2017. 

Berta Jasiukėnaitė, Public relations project manager, +370 694 60771, This email address is being protected from spambots. You need JavaScript enabled to view it.

Read more: Regarding the Lietuvos Energijos Gamyba, AB,...

Details

Document Date: 2019/04/01 16:05:00
Document Type: Newsletter
Report Number: 135782
Volume No: 1
Country: Afghanistan ; 
Disclosure Date: 2019/04/02 16:04:46
Doc Name: The World Bank Group in Afghanistan : Country Update
Language: English
Region: South Asia ; 
Rep Title: The World Bank Group in Afghanistan : Country Update
Topics: Industry ; Finance and Financial Sector Development ; Energy ; Water Resources
SubTopics: Hydrology ; Health Care Services Industry ; Energy Policies & Economics ; Access to Finance
Unit Owning: SAREC - External Communications (SAREC)
Source Citation: The World Bank Group in Afghanistan : Country Update. --
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