IEnova reported its second quarter adjusted EBITDA was $225 million, up 3 percent from $219 million in the same period of 2018, mainly due to the Termoeléctrica de Mexicali power plant higher operational results and the start of operations of the Pima solar power generation facility.
Profit for the second quarter of 2019 was $113 million, compared with $102 million in the same period of 2018. The increase of $10.3 million was mainly due to non-cash exchange rate effects as a result of the depreciation of the Mexican peso in the second quarter of 2018 and Termoeléctrica de Mexicali power plant higher operational results.
“Today, we announced solid second-quarter 2019 financial results. We placed Rumorosa Solar, our second solar project, into service and in the storage terminal business, we announced new, fully-contracted capacity at our Manzanillo terminal. Finally, we published our social, environmental, and economic achievements in our 2018 Sustainability + Financial Report: Facing the future, which is our sixth sustainability report. IEnova continues to be fully committed to promoting the country’s economic development,” said Tania Ortiz Mena, CEO of IEnova.
Regarding IEnova’s natural gas pipeline contracts with CFE that were awarded through open, transparent, public bid processes, and according to international industry standards, IEnova is having ongoing group meetings requested by the Federal Government to address the matters raised by CFE.
For more information visit www.ienova.com.mx