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CPFL, Brazilian Energy Company, Plans to Invest R$ 15.2 Billion by 2025. R$ 13.3 Billion Will Be for Distribution and R$ 1.28 Billion for Generation
CPFL Energia is a comprehensive energy company, with businesses in distribution, generation, electricity trading, and services. The company also operates in hydropower, solar, wind, and biomass, supplying energy to 9.9 million customers. CPFL Energia announced its new investment plan in Brazil, where the company plans to invest R$ 15.2 billion by 2025.
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CPFL Energia Investment Plan
CPFL announced its new investment plan for the next five years, expecting to invest around R$ 15.22 billion by 2025, up from R$ 13.5 billion in the previous plan. The investment estimate for 2021 is R$ 3.4 billion, of which R$ 2.5 billion will be allocated to distribution.
Of the total that the company plans to invest in electricity by 2025, about R$ 13.3 billion of the funding will be allocated to distribution, R$ 1.28 billion for generation, R$ 375 million in transmission, and R$ 278 million in trading.
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Company Profits
CPFL Energia reported a net profit of R$ 3.7 billion, an increase of 34.9% compared to the previous year. In 2020, net operating revenue was R$ 30.898 billion, a 3.2% increase. For the year, EBITDA grew 6%, reaching R$ 6.78 billion.
However, as industrial and commercial consumption fell by 5.6% and 10.1%, respectively, sales of electricity for the year dropped by 3.1%. Residential consumption, driven by social isolation, increased by 2.9%.
The CEO of CPFL Energia, Gustavo Estrella, says, “Looking at the closed year, the performance is very positive. The situation we were in during the second quarter, at the beginning of the pandemic, was one of a lot of uncertainty. We saw a recovery in the second half; it occurred in the third quarter and was even stronger in the fourth quarter.”
