Operations
Net electricity generation
| Millions of kWh | ||||
|---|---|---|---|---|
| 2017 | 2016 | Change | ||
| Wind | 892 | 401 | 491 | - |
| Other sources | 589 | 129 | 460 | - |
| Total net generation | 1,481 | 530 | 951 | - |
| - of which South Africa | 1,156 | 203 | 953 | - |
| - of which India | 325 | 327 | (2) | -0.60% |
Net generation in 2017 amounted to 1,481 million kWh, an increase compared with 2016 of 951 million kWh. The increase is mainly attributable to the increase in wind generation (+491 million kWh) and solar generation (+589 million kWh) in South Africa following the entry of new plants into service, mainly in the 2nd Half of 2016. By contrast, output declined slightly in India.
| MW | ||||
|---|---|---|---|---|
| at Dec. 31, 2017 | at Dec. 31, 2016 | Change | ||
| Wind farms | 371 | 335 | 36 | 10.70% |
| Other | 323 | 323 | - | - |
| Total net efficient capacity | 694 | 658 | 36 | 5.50% |
| - of which South Africa | 522 | 486 | 36 | 7.40% |
| - of which India | 172 | 172 | - | - |
Net efficient generation capacity in 2017 totaled 694 MW for an increase of 36 MW compared with the previous year. The change on December 31, 2016 mainly reflects the increase in installed generation capacity associated with the Gibson Bay plant.
Performance
| Millions of euro | ||||
|---|---|---|---|---|
| 2017 | 2016 | Change | ||
| Revenue | 96 | 29 | 67 | - |
| Gross operating margin | 57 | 14 | 43 | - |
| Operating income | 15 | (5) | 20 | - |
| Capital expenditure | 30 | 304 | (274) | -90.10% |
The following tables show a breakdown of performance by geographic area in 2017.
Revenue
| Millions of euro | ||||
|---|---|---|---|---|
| 2017 | 2016 | Change | ||
| Sudafrica | 80 | 12 | 68 | - |
| India | 16 | 17 | (1) | -5.90% |
| Total | 96 | 29 | 67 | - |
Revenue in 2017 amounted to €96 million, an increase of €67 million compared with the prior year. The increase is mainly due to the higher output and sale of electricity generated by the Pulida, Adam Solar and Gibson Bay plants.
Gross operating margin
| Millions of euro | ||||
|---|---|---|---|---|
| 2017 | 2016 | Change | ||
| Sudafrica | 53 | 4 | 49 | - |
| India | 8 | 10 | (2) | -20.00% |
| Other countries | (4) | - | (4) | - |
| Total | 57 | 14 | 43 | - |
The gross operating margin in 2017 amounted to €57 million, an increase of €43 million compared with 2016. The change reflects the aforementioned increase in revenue, partly offset by the decreases reported in Australia and Kenya.
Operating income
| Millions of euro | ||||
|---|---|---|---|---|
| 2017 | 2016 | Change | ||
| Sudafrica | 18 | (10) | 28 | - |
| India | - | 5 | (5) | - |
| Other countries | (3) | - | (3) | - |
| Total | 15 | (5) | 20 | - |
Operating income in 2017 came to €15 million, an increase of €20 million, which includes an increase of €23 million in depreciation, amortization and impairment, due mainly to the start of operations at plants in South Africa in 2016.
Capital expenditure
| Millions of euro | ||||
|---|---|---|---|---|
| 2017 | 2016 | Change | ||
| Sudafrica | 27 | 301 | (274) | -91.00% |
| India | 3 | 3 | - | - |
| Total | 30 | 304 | (274) | -90.10% |
Capital expenditure came to €30 million in 2017, down €274 million compared with the prior year. The figure mainly refers to photovoltaic plants in South Africa on which construction work was completed, as noted earlier.