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Fuente: Business News Americas.

Colombian state generator Isagen reported a profit of 122bn pesos (US$69.2mn) in the first quarter this year, up 57% from the same period 2010, thanks to increased output from the company's dams.

Isagen generated 2.79TWh in 1Q11, a 52% increase a year earlier when output from the country's dams was greatly reduced by the El Niño weather phenomenon.

"Increases in hydrological levels have had an impact on results. This is logical as last year we were dealing with output reductions and constraints. Now we are experiencing La Niña, and the opposite is happening," company CEO Luis Rico said during a conference call.

Isagen reported a 32% rise in energy sales contracts over the period, and a 44% increase in gas sales.

Operating revenues hit 401.9bn pesos and Ebitda 187bn pesos in the quarter, up 19% and 41% respectively year-on-year.

However, the CEO pointed out that first quarter demand was down by 0.4% compared to 1Q10, again on the back of the La Niña weather system. Consumption was hit by widespread flooding and lower air conditioning use, Rico said.

OPERATIONS

During the webcast Isagen reported its giant 820MW Sogamoso dam project is now around 31.9% complete and is expected online by the end of 2013.

The dam will require total investment of 4.16tn pesos and will be one of the five largest in the country, supplying 10% of Colombia's energy needs. It will increase Isagen's generation capacity by 38%.

Isagen also reported that its 80MW Amoyá dam project is 79.9% complete, while the Manso transmission project, which aims to increase generation output from the firm's Miel I dam by 168GWh/y, is 88.6% complete.