ISAGEN S.A. E.S.P.

Overview Key strengths Key risks Growth strategy based on clean energy--mostly solar and wind--and in line with Brookfield Renewables? investment plan. Exposure to the risk of Colombia's downgrade because ISAGEN operates only in that country. Low maintenance investments in existing assets and no exposure to construction risk for newly acquired assets. Hydrological conditions and spot market prices can affect the company?s cash flows. A diversified client base with a consolidated delinquency rate of only 0.3%. In 2021, ISAGEN was the second-largest generator in the country with total output of 16,434 gigawatt hours (GWh), which represented 22% of the nation's demand. At the end of 2021, the company had 16 generating plants with installed capacity of 3,187 megawatts (MW). The company

...Resilient metrics amid demand recovery in Colombia. In 2021, ISAGEN was the second-largest generator in the country with total output of 16,434 gigawatt hours (GWh), which represented 22% of the nation's demand. At the end of 2021, the company had 16 generating plants with installed capacity of 3,187 megawatts (MW). The company sells 71% of its output through contracts with an average duration of five years or more. ISAGEN's revenue grew 8.4% in 2021, while EBITDA increased 25% and EBITDA margin to 64.5% from 56.1%, mainly reflecting a 32% growth in energy generated that year due to a strong demand recovery and lower spot...

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