The electric power arm of the flag oil company, YPF Luz, closed 2022 with a solid operating and financial balance in which a jump of more than 51% in the sale of renewable energy stands out. The firm is expected to inaugurate its first solar park in a few weeks.
The metrics from the firm’s last annual period are eloquent and show robust growth. The company recorded renewable energy sales of 1,819 GWhwhich means a jump of 51.3%, compared to the 1,202 GWh of 2021.
Regarding the total energy sold (renewable plus thermal) the company had a drop of 2.9% year-on-year. This is explained by the thermal segment that closed the year with a decrease in energy sales of 10.3% per year.
- 1.819 GWh
- were the green energy sales registered by YPF Luz during 2022. The previous year they were 1,202 GWh.
In other words, means that the company replaced thermal generation with renewable. They are expected to continue expanding their green structure, taking into account that they are about to inaugurate the first stage of the Zonda solar park, the first for the company.
In the presentation of results that YPF made at a special event on the New York Stock Exchange (NYSE), the president, Pablo González, announced: “In 15 days we will be inaugurating our first solar park: the Zonda”. The park has an initial installed capacity of 100 MW, had an investment of almost 100 million dollars and is located in San Juan.
- 100 MW
- of initial installed power will have the solar park that YPF will inaugurate in San Juan
The company also approved the construction of its fourth wind farm that will be located in Córdoba and will have a total installed capacity of 155 MW. They will invest more than 260 million dollars and will have a construction time of about 20 months.
The firm maintains its strategy in the Renewable Energy Term Market (MATER) and at the end of 2022, represented 35% of all installed capacity. It means that in 2022 the power awarded was increased by 6.1% compared to 2021.
YPF Luz’s share of the energy sold reached 38%, 16.5% higher than the last quarter of 2021. A figure that reflects the efficiency of the firm’s parks compared to the average for the renewable generation market.
YPF Luz’s main indicators of the year
As detailed from the company, they closed the annual period with a total revenue of 484 million dollars, which rounds off a 9.8% jump over 2021. In addition, Ebitda (income before taxes and depreciation) was 398 million dollars, consolidating a 24.1% jump compared to 2021.
- 9,8%
- is what the company’s revenues increased in 2022 on a year-over-year basis.
The result for the period was about 139.4 million dollars, which means that the company achieved more than double it compared to 2021 (64.9 million dollars).
Regarding operating costs, the company recorded an increase of 33.7% in the last quarter of last year, over the same period of 2021. They detailed that it was due to increases in salaries, social charges, maintenance costs and transportation expenses.
The total for the year closed at 22.3% compared to the operating costs of 2021.
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