Italian energy company Sorgenia SpA Tuesday said 2009 net profit was basically unchanged from a year earlier as a tax credit more than offset weaker demand from the economic recession.

Sorgenia said full-year net profit EUR66.9 million versus EUR66.7milliono a year earlier, while earnings before interest, taxes, depreciation and amortization, or Ebitda, fell 44% to EUR117.8 million.

Sorgenia also said it started running its new combined cycle gas turbine facility in the southern Italian location of Modugno with an installed capacity of 800 megawatts.

The company is controlled by CIR SpA (CIR.MI) and Austrian utility Verbund AG (VER.VI).

Company Web site: www.sorgenia.it

-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com

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