Operations
Net electricity generation
| Milions of kWh | ||||
|---|---|---|---|---|
| 2018 | 2017 | Change | ||
| Wind | 933 | 892 | 41 | 4.6% |
| Other sources | 574 | 589 | (15) | -2.5% |
| Total net generation | 1,507 | 1,481 | 26 | 1.8% |
| - of which South Africa | 1,192 | 1,156 | 36 | 3.1% |
| - of which India | 315 | 325 | (10) | -3.1% |
Net generation in 2018 totaled 1,507 million kWh for an increase of 26 million kWh compared with 2017. This increase is mainly attributable to the greater production of wind energy (41 million kWh), particularly in South Africa (51 million kWh) and mainly attributable to the Gibson Bay plant, which went into operation in February 2017. Compared with the previous year, adverse weather conditions resulted in a decrease in solar generation in South Africa (15 million kWh) and wind generation in India (10 million kWh).
Net efficient generation capacity
| MW | ||||
|---|---|---|---|---|
| at Dec. 31, 2018 | at Dec. 31, 2017 | Change | ||
| Wind farms | 371 | 371 | - | - |
| Other | 323 | 323 | - | - |
| Total net efficient capacity | 694 | 694 | - | - |
| - of which South Africa | 522 | 522 | - | - |
| - of which India | 172 | 172 | - | - |
Net efficient capacity in 2018 came to 694 MW, in line with the previous year
Performance
| Milions of euro | ||||
|---|---|---|---|---|
| 2018 | 2017 | 2018-2017 | ||
| Revenue | 101 | 96 | 5 | 5.2% |
| Gross operating margin | 54 | 57 | (3) | -5.3% |
| Operating income | 10 | 15 | (5) | -33.3% |
| Capital expenditure | 142 | 30 | 112 | - |
The tables below show financial performance by geographical area in 2018.
Revenue
| Milions of euro | ||||
|---|---|---|---|---|
| 2018 | 2017 | Change | ||
| South Africa | 83 | 80 | 3 | 3.8% |
| India | 15 | 16 | (1) | -6.3% |
| Others countries | 3 | - | 3 | - |
| Total | 101 | 96 | 5 | 5.2% |
Revenue for 2018 came to €101 million, up €5 million year on year. This increase was mainly due to the increased production and sale of electricity by the Pulida and Gibson Bay plants in South Africa
Gross operating margin
| Milions of euro | ||||
|---|---|---|---|---|
| 2018 | 2017 | Change | ||
| South Africa | 50 | 53 | (3) | -5.7% |
| India | 9 | 8 | 1 | 12.5% |
| Other countries | (5) | (4) | (1) | -25.0% |
| Total | 54 | 57 | (3) | -5.3% |
The gross operating margin amounted to €54 million in 2018, down €3 million compared with 2017. The change reflects the greater costs recognized in South Africa, Australia and Morocco.
Operating income
| Milions of euro | ||||
|---|---|---|---|---|
| 2018 | 2017 | Change | ||
| South Africa | 13 | 18 | (5) | -27.8% |
| India | 4 | - | 4 | - |
| Other countries | (7) | (3) | (4) | - |
| Total | 10 | 15 | (5) | -33.3% |
Operating income totaled €10 million in 2018, a decline of €5 million taking account of an increase of €2 million in depreciation, amortization and impairment losses.
Capital expenditure
| Milions of euro | ||||
|---|---|---|---|---|
| 2018 | 2017 | Change | ||
| South Africa | 104 | 27 | 77 | - |
| India | 27 | 3 | 24 | - |
| Other countries | 11 | - | 11 | - |
| Total | 142 | 30 | 112 | - |
Capital expenditure came to €142 million in 2018, up €112 million year on year. Investments mainly concerned photovoltaic plants in South Africa (Round 4), India (Coral) and Zambia (Scaling Solar).
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