The Board of Directors of Insular de Aguas de Lanzarote S.L. (Inalsa) has approved its provisional profit and loss account for the year 2023, with a forecast of 8,356,052 euros in profits, related to the wind farms that operate in Lanzarote and depend on this public company.
"For the second consecutive year, the calculation is that a dividend in favor of the Lanzarote Water Consortium will be approved for a positive amount of 3,500,000 euros," they point out from the Cabildo. As for the remaining almost 5 million, they would go "to compensate for previous negative results." In addition, the public company will pay 1,677,017 euros in taxes, according to the planning designed by the Consortium.
This extraordinary session of the Council, headed by the president of the Cabildo, María Dolores Corujo, was attended by the island councilor of Water, Andrés Stinga, as well as representatives of several of the municipalities that make up this forum.
The profit and loss account approved by the company for the next year reflects that the majority of the entity's income comes from the sale of energy (11 million euros), while another 676,200 euros will come from the company's participation in Eólicas de Lanzarote S.L.. On the other hand, among the operating expenses, the 1.9 million that are allocated to the payment to the municipalities of the Island stand out, according to the agreements derived from the 2007 Wind Tender.
As reported by the Cabildo, another of the aspects that was debated at the Board of Directors was "the impossibility of waiving" the interest currently generated by the debt that the municipalities of Arrecife and Teguise have with Inalsa, which "they must liquidate." In this way, the financial income forecasts for the year 2023 remain at 385,927 euros and 651,226 euros of debt interest from one and the other, respectively, in a sum that will increase "until the payment date."
“Inalsa has an enviable financial health”
Both the president María Dolores Corujo and the councilor Andrés Stinga stressed during the Council meeting "the good financial path of the entity," highlighting "the investment in renewable energy that the current Government group has made during this term."
Corujo recalled the “milestone that the execution and commissioning of the Arrecife Wind Farm represented in the midst of the pandemic", and stated that the installation of the new San Bartolomé Wind Farm (9.2MW) is "imminent", after its award to Elecnor for 13 million euros.
“If we observe the economic results of Inalsa in the years 2019, 2020 and 2021, these were +1,900,000, +651,000 and +4,056,492 euros, respectively, so we must conclude that the entity has enviable financial health to date. And we must have something to do with that management...”, the president defended.