Company News Nov 25, 2021 5:41 PM
EPM’s Vice-President of Finance, Martha Durán, spoke about the company’s investments this year.
Durán said that the firm has invested close to CoP$1T this year, Valora Analitik reported.
EPM parent company has invested more than CoP$800B and the energy subsidiaries in Colombia almost CoP$500B.
“The investments we make in energy are important, corresponding to 80% and in water to 20%. Ituango is a large contributor,” Durán added.
EPM’s Jorge Carrillo announced that EPM will make investments as a group of CoP$23T between 2022 and 2025, of which CoP$13.3T will be destined to EPM parent company.
In addition, he said that CoP$6.8T will be for national subsidiaries and CoP$3T for international subsidiaries.
“That means that, between 2022 and 2025, EPM invests CoP$20T in infrastructure in Colombia. These figures serve to expand coverage and improve the quality and reliability of the systems,” Carrillo highlighted.
Durán highlighted that the country has had good rainfall so good hydro generation, resulting in less energy purchases.
She said that EPM restructured its debt; substituting one debt for another to get better conditions.
“We do the technical analysis to have the best financial conditions,” Duran said.
Duran said that the company has a divestment plan to optimize the portfolio.
“We made the decision to divest UNE, which we are awaiting authorization from the Council. We hope that this operation can come about by the end of 2022 or early 2023,” Duran said.
Bottom-Line: The investment budget announced generates positive expectations, especially considering that these resources will help advance the Hidroituango project.