Chile’s Colbun has reported profits up 32 per cent in 2013, compared to $51m in 2012.

The power utility owns both hydro facilities and thermoelectric power stations.

Although the company’s hydroelectric power generation decreased by 7 per cent, compared to 2012, primarily due to drought conditions in the system for the fourth consecutive year, overall electricity generation significant increased.

Gas-fired power production, such as from its Santa Maria I facility, rose by 44 per cent, compared to 2012, primarily due to supply agreements that the company negotiated with Metrogas and ENAP earlier last year.

Similarly, output from Colbun’s coal-fired assets rose to 2616 GWh, an increase of 41 per cent over 2012.

One of Colbun’s main projects under development is the Angostura hydroelectric power station. The filling of its reservoir was completed in December, along with the synchronization of its first 135 MW unit.

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