Bio Energias forecasts $197m in earnings to 2013

Bio Energias, a Brazilian energy company, expects to earn R$400m ($197m) from the sale of 360 MW of power in the free energy market by the end of next year, Investimentos e Notícias reports.

The company's strategy is to increase the volume of long-term contracts in its portfolio by 80 per cent, the report added.

For the last three years the company's sales volume has grown five-fold, making it one of Brazil's ten biggest energy traders.

Over the next 18 months Bio Energia will focus on medium-sized businesses, a market representing 11,000 industries and commercial centres supplied by the free energy market.

Brazil’s free energy market is responsible for 27 per cent of all energy consumed in the country, with an annual turnover of R$20bn.

In the past five years, it has enabled industrial consumers to save R$25bn in electricity fees. In order to become a free energy market consumer you must consume a minimum of 0.5 MW a month.

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