Neoenergia filed its financial and operating results for the first quarter of 2023 on Tuesday, April 25. EBITDA was up by 14% year on year, to BRL 3.6 billion.  EBITDA Cash was up by 7%, to BRL 2.6 billion. The result was driven by the delivery of projects in Renewable businesses, including the entry into full operation in March of the Neoenergia Luzia solar energy plant in Paraíba state, which marked the company's debut in centralized photovoltaic generation.

Profit was BRL 1.2 billion, in line with the period last year. Investment was BRL 2.1 billion. With the completion of the projects in Renewables, the contributions were concentrated in Grid businesses, totaling BRL 2 billion, up by 21%, to improve and expand distribution services and transmission projects.

"We continue to focus on financial discipline and better capital allocation. This means we can always look forward in pursuit of new business development to meet the expectations of our customers throughout the country," says Eduardo Capelastegui, CEO of Neoenergia.

RENEWABLES

With a strategy focused on expanding the generation of energy from clean sources, Neoenergia closed the quarter with 42 wind farms in operation, with an installed capacity of 1,389 MW, and the two Neoenergia Luzia solar energy plants, with 149.2 MWp and 228,000 panels. Wind and solar power generation was 943 GWh, 84.71% up year on year.

Neoenergia Luzia is part of the Neoenergia Renewable Complex, which includes the Neoenergia Chafariz wind farm, the Neoenergia Santa Luzia II substation and the respective transmission line. The project, in Paraíba state, is the first in the country to have associated generation from renewable sources.

In addition to solar energy parks entering operation, the company registered 401.5 MW in its Neoenergia Oitis operation (commercial and testing), a wind power complex in Piauí and Bahia states. The project went into commercial operation last year and construction will be completed in the coming months. In all, there will be 103 turbines and a total installed capacity of 566.5 MW. Thus, the portfolio of wind assets will total 1.6 GW.

THE GRID

Neoenergia's five distributors – Neoenergia Brasília (the Federal District), Neoenergia Coelba (Bahia state), Neoenergia Cosern (Rio Grande do Norte state), Neoenergia Elektro (São Paulo and Minas Gerais states) and Neoenergia Pernambuco (Pernambuco state) – ended the quarter with 307,000 customers more than in 2022, totaling 16,111 million.

Regarding the quality of the energy supply, all the concessionaires achieved better results than the requirements set by the regulatory indicator Equivalent Interruption Duration per Consumer (DEC) and four exceeded the Equivalent Frequency of Interruption per Consumer Unit (FEC) requirement. Regarding total losses, the indicators continue to improve, and three of the five distributors comply with the regulatory limit.

GOVERNANCE

Neoenergia released the second edition of its Annual Fiscal Transparency Report in March. In addition to voluntarily publishing the details of its 2022 tax contributions, the report underscores the company's commitment to society in ensuring the ethical principles of corporate governance, in accordance with Brazilian legislation, and good international practices.