Asuncion, IP Agency.- In compliance with the obligations established in Annex C of the Treaty, Itaipu transferred a total of USD 377 million to the Paraguayan State in the first eight months of 2024.
The disbursements correspond to the concepts of royalties, compensation for energy transfer and payments to the National Electricity Administration (ANDE).
In this way, the Binational continues to transfer in a timely manner the resources established in Annex C of the Treaty to support the execution of essential works for the benefit of the population.
According to the report of the Financial Directorate of the Entity, so far in 2024, USD 180 million in royalties and USD 152 million in energy transfers were transferred to the Ministry of Economy and Finance. For its part, ANDE received a total of USD 45 million in profits and compensation for administration and supervision charges.
Regarding payments made in the eighth month of the current fiscal year, royalties totaled USD 21 million, while USD 20 million were injected for energy transfers. In turn, ANDE received USD 1.6 million; thus, Itaipu’s disbursements in August totaled USD 42 million.
Part of the royalties is used to finance the expenses of the General Budget of the Nation (PGN), while another important portion is transferred by the National Treasury to departmental and municipal governments.
In the specific case of compensation for energy transfer, the resources are incorporated into the National School Food Fund (Fonae) and a percentage is also distributed to municipalities and governorates, as established by national legislation.
On the other hand, Itaipu’s payments to ANDE, in a timely manner, allow the public company to have guaranteed and predictable funds to fulfill its investment plans, in order to provide a quality electricity service throughout the national territory, reports the Binational.
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2024-09-06 08:27:35
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Title: Itaipu Binational Hydroelectric Dam Transfers USD 377 Million to Paraguayan State in 2024
Meta Description: Learn about the significant financial contributions of the Itaipu Binational Hydroelectric Dam to the Paraguayan State, supporting essential works and projects for the benefit of the population.
Keywords: Itaipu Binational Hydroelectric Dam, Paraguayan State, financial contributions, royalties, energy transfer, ANDE, National Electricity Administration, Ministry of Economy and Finance, General Budget of the Nation, departmental and municipal governments.
Article:
The Itaipu Binational Hydroelectric Dam, a crucial component of the Paraguayan energy landscape, has transferred a substantial amount of USD 377 million to the Paraguayan State in the first eight months of 2024. This significant financial contribution is in compliance with the obligations established in Annex C of the Treaty, ensuring the timely allocation of resources to support essential works and projects for the benefit of the population.
Breakdown of Financial Contributions
The disbursements made by Itaipu comprise various concepts, including:
- Royalties: A total of USD 180 million has been transferred to the Ministry of Economy and Finance, which will be utilized to finance the expenses of the General Budget of the Nation (PGN).
- Energy Transfer: USD 152 million has been disbursed to the Ministry of Economy and Finance, corresponding to compensation for energy transfer.
- Payments to ANDE: The National Electricity Administration (ANDE) has received a total of USD 45 million in profits and compensation for administration and supervision charges.
Monthly Breakdown
In the eighth month of 2024, the financial contributions from Itaipu were as follows:
Royalties: USD 21 million
Energy Transfer: USD 20 million
ANDE: USD 1.6 million
Total: USD 42 million
Impact of Financial Contributions
The financial contributions from Itaipu play a vital role in supporting various sectors of the Paraguayan economy. The royalties, for instance, are used to finance essential expenses of the General Budget of the Nation, while another portion is transferred by the National Treasury to departmental and municipal governments. These funds are then utilized to support local projects and initiatives, ultimately benefiting the population.
The Itaipu Binational Hydroelectric Dam’s commitment to transferring resources in a timely manner underscores its dedication to supporting the Paraguayan State’s development goals. As a key player in the energy sector, Itaipu continues to make significant contributions to the country’s growth and prosperity.
Conclusion
The Itaipu Binational Hydroelectric Dam’s financial contributions to the Paraguayan State are a testament to its commitment to supporting the country’s development and growth. By transferring essential resources, Itaipu is contributing to the improvement of living standards and the well-being of the Paraguayan population. As a responsible and reliable energy provider, Itaipu continues to play a vital role in shaping the country’s future.
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