Spanish group Gas Natural Fenosa's strategic plan envisions capex of 2.4bn-3.6bn euros (US$3.15bn-4.67bn) for Latin America through 2014.The energy giant aims for 6mn gas and 5.3mn power distribution connections in the region in 2012, and 2.6GW installed capacity from the current 2.11GW.
The company's gas and power connections at the end of the first half this year totaled 5.5mn and 4.77mn, respectively, up 3.2% and 5.4% from 1H09, according to a presentation by CEO Rafael Villaseca.
The group's forecast for connections in the region in 2014 reaches 12mn-13mn, and 2.6-3.5GW installed capacity.
In 1H10, Gas Natural Fenosa's Latin American gas distribution sales rose 6.1% to 92.3GWh and electricity distribution grew 9.7% to 8.97GWh compared to the year-ago period.
On the power generation front, the group saw production in the region dip 1.8% in the period to 10.4TWh, as a result of programmed maintenance at the Tuxpan thermo plant in Mexico.
Villaseca highlighted increased thermo production in Panama and higher prices in the Dominican Republic and Puerto Rico.
The Spanish energy giant's power generation, gas and power distribution investment in Latin America in the first six months of 2010 totaled 85mn euros, 29mn euros and 50mn euros, respectively.
Villaseca attributed the higher capex, in part, to the completion of the 400MW Durango combined cycle plant in Mexico that is in the commissioning phase.
For company financials, go to this link (http://portal.gasnatural.com/servlet/ContentServer?gnpage=3-10-1¢ralassetname=3-10-BloqueHTML-447#), and the strategic plan, this link (http://portal.gasnatural.com/servlet/ContentServer?gnpage=3-10-1¢ralassetname=3-10-BloqueHTML-2400)
By David Casallas
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