Endesa LatAm generation, sales rise in Q1

Spanish power company Endesa (NYSE: ELE) increased its Latin American power generation 7.9% to 14,558GWh in the first quarter, while sales rose 4.2% to 13,492GWh, the company said in separate statements. The higher generation was mainly due to higher output in Argentina and Peru. "Driving this growth was the recovery of demand in Argentina and Peru, which has resulted in a sharp increase in their energy needs," the statements said. Endesa's output in Argentina grew 14% to 4,719GWh and 23.5% in Peru to 1,554GWh. The company's output also rose 8.8% in Chile to 4,301GWh and 0.7% in Colombia to 2,855GWh. However, production in Brazil fell 13.8% to 1,129GWh due to lower output from the Fortaleza combined cycle plant, which started operations in January 2004. SALES The highest growth was in Brazil and Peru, where sales increased 8.1% and 5.9% respectively to 3,665GWh and 1,102GWh. Sales in Argentina increased 2.2% to 3,516GWh, while in Chile they increased 3.8% to 2,823GWh and in Colombia 1.2% to 2,386GWh. "These figures confirm the progressive economic recovery of Latin America," the statements said.