The Eletrobras (ELET3; ELET6) announced that during the World Hydrogen 2024 event in Rotterdam, Netherlands, it signed two Memorandums of Understanding.
The first was signed with Green Energy Park Global B.V., aiming to contribute to the production of renewable hydrogen and its derivatives at competitive prices, with the intention of boosting the green economy and ensuring energy security.
On the other hand, the second memorandum was signed with the government of the state of Ceará, with the goal of providing renewable energy and promoting the decarbonization of the economy, as well as encouraging the low-carbon hydrogen production chain in future industrial projects in the state.
The agreement established with Green Energy Park has the potential to reach up to 10 Gigawatts, with Eletrobras participating in this energy supply solution through a unique hydrogen and derivatives production platform, which will be designed and implemented by Green Energy Park.
In turn, the agreement signed with the government of the state of Ceará foresees the supply of renewable energy for future local industrial projects, as well as seeking solutions for electricity supply in areas where energy-intensive projects are being developed.
Eletrobras (ELET3; ELET6)It is worth noting that the company reported a net profit of R$ 331 million in the first quarter, representing a 19% decrease compared to the same period of the previous year.
From January to March, the adjusted Ebitda (earnings before interest, taxes, depreciation, and amortization) of the company totaled R$ 4.5 billion, also registering a 19% decrease compared to the previous year.
The company emphasized that one of the factors that impacted its Ebitda was the reduction in generation revenue, due to the non-recognition of a revenue of R$ 432 million from Amazonas Energia, a distributor that was privatized in 2018.
In addition, the sale of the Candiota thermal power plant also negatively impacted the quarter’s revenue by R$ 149 million.Regulatory criteriaHowever, Eletrobras highlighted that, on a regulatory basis, excluding the effect of Amazonas Energia, the adjusted Ebitda for the first quarter showed a 5% increase, totaling R$ 5.4 billion.
Another negative factor in the period was the increase in operating costs related to energy purchased for resale, charges for the use of the electrical grid, construction, and others.
However, these adverse effects were partially offset by the increase in transmission revenue and the reduction in personnel, material, services, and other expenses, due to the savings generated by voluntary dismissal programs.
The company also emphasized efforts in managing liabilities, with a reduction of R$ 1.137 billion in the total stock of the compulsory loan provision compared to the end of 2023, now totaling R$ 16 billion.
