Energisa to invest $ 147 mm in Brazilian distribution this year

Mar 12, 2008 01:00 AM

Brazilian power holding company Energisa plans to invest 249 mm reais ($ 147 mm) in distribution this year using its own cash, up from 98 mm reais in 2007, finance VP Mauricio Botelho told.
"Of the total, 30 % was granted by the Brazilian government, which is subsidizing its Light For All rural power program that plays a relevant role in the states where we own distribution assets," the executive said.

Energisa last year did not receive government funds for Light for All.
"The money was not received in time to invest in 2007 so we will have to earmark this expenditure for 2008," Botelho said. The company did receive federal funds for the program in 2005 and 2006. In Light for All this year, the company expects to make 25,000 new connections in Sergipe state, 12,000 in Paraiba state and 18,000 in Minas Gerais state, Botelho said.

So far, the company has added 72,000 connections to its concession area since the government program started. Distribution investment excluding Light for All will reach 174 mm reais in 2008. In 2009 and 2010, total investment in distribution will reach 192 mm reais and 179 mm reais respectively.
In the 2008-10 period, distribution subsidiaries Saelpa, Energipe, CFLCL, CELB and Cenf will receive 48 %, 24 %, 22 %, 4 % and 2 % respectively of the investment.

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