Solaria’s revenue, profit, and EBITDA in 9M 2025 surged on new plant operations and cost optimization
It expects installed capacity to reach 3 GW by the end of 2025, with 4.4 GW either in operation or under construction
The management projects its hybrid storage and data center expansion to help exceed the full-year EBITDA target
Solaria Energía y Medio Ambiente, the Spanish renewable energy company, has reported strong financial and operational results for the initial 9 months of 2025, with its EBITDA registering a 75% year-on-year (YoY) increase to €230.7 million. The company attributes the results to an increase in operational capacity and improved financial efficiency.
Its revenue for the period rose 65% YoY to €258.9 million, while net profit increased 148% to €141.7 million over the same period.
Solaria said its balance sheet remains robust, with net debt of €1.316 billion, equivalent to 4.5x its EBITDA for the last 12 months. Operating cash flow remained positive. It continues with the group’s share buyback program, with a target of repurchasing up to 10% of its share capital.
By year-end 2025, the company expects to exceed its €255 million EBITDA objective, supported by growth in international markets, the rollout of solar-battery hybrid systems, and the consolidation of its data center business. EBITDA is targeted to expand at a compounded annual growth rate (CAGR) of 28% to €331 million in 2026, €456 million in 2027, and €521 million in 2028.
As part of its data center strategy, Solaria aims for its solar PV power plant infrastructure to enable data centers to simply plug in, thus saving costs and accelerating development. Solaria’s projects can directly supply electricity to the data centers under attractive power purchase agreement (PPA) terms.
At its Capital Markets Day (CMD) 2025, Solaria announced a €2.5 billion investment plan over the 2026 to 2028 period, with a focus on making selective investments in solar PV, wind, and battery energy storage systems (BESS). Half of it is reserved for solar PV. A bulk of it will be invested in Spain (41%), followed by Italy (34%), Portugal (15%), and Germany (10%).
In terms of capacity, Solaria expects its operational capacity to reach 3 GW in 2025, with 4.4 GW either in operation or under construction. By the end of 2028, the company aims to achieve 9 GW of installed capacity, expanding from an estimated 4.3 GW in 2026 and 6.9 GW in 2027.
Its overarching aim is to achieve 18 GW solar PV capacity in operation and under construction in 2030. According to its website, it has a pipeline of more than 14.2 GW of projects in Spain, Italy, Portugal, Uruguay, and Greece.
At its CMD 2025, Solaria also announced the launch of its new joint venture (JV) with Stoneshield Capital, focused on the installation and operation of standalone batteries across Europe. Called Gravyx, the JV has a 14 GWh portfolio, which it will execute with Stoneshield Capital’s funding. Gravyx will generate revenue through energy arbitrage, capacity payments, and ancillary services.
Solaria CEO Arturo Díaz-Tejeiro Larrañaga said, “We are reaping the rewards of a disciplined strategy: more generation, more efficiency and a decisive entry into new businesses such as storage and data centres.” He added, “Our goal is to consolidate Solaria as the leading energy and digital operator in Europe.”
Note: This news report has been updated to reflect the company’s announcements made at its Capital Markets Day 2025, which became available after the report was published.
