Colombia’s state-run power company sees net profit up 17%

Colombia’s state-run power company Isagen 2011 net profits increase 17% from the previous year, standing at $270 million, local media reported Wednesday.

At the shareholders’ meeting Colombia’s third biggest power company also announced there was a 15% increase year-on-year in operational income to $950 million.

It generated a record 11,200 gigawatts per hour (GWh), a 15% jump on the previous year.

Company director Luis Fernando Rico Pinzon said the company had made major advances in the construction of the HidroSogamoso and Amoya hydroelectric projects.

It was also announced that the company planned to invest $2.6 billion by 2015.