The Italian renewable power plants developer and operator experienced a 88.7% plunge in earnings before interest and tax (EBIT) to EUR 27 million due to higher depreciation, amortization and impairment losses. The company explained the EUR-155-million impairment on its Romanian assets with the ongoing uncertainties in the regulatory framework and the country’s market conditions.
Geothermal energy provides 8% of EGP's installed capacity, 761 MW of which are located in Italy and 72 MW in the USA. The company has one geothermal energy project under construction - the 38 MW Cerro Pabellon plant in Chile.
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