Solaria Energia Grew Annual Revenues For Q1/2021 By 90%

Spanish Solar Project Developer Solaria Energia Generated 82% More Energy During Q1/2021 On Annual Basis, While Growing EBITDA By 110%

Solaria Energia Grew Annual Revenues For Q1/2021 By 90%

With its Q1/2021 financials showing Solaria Energia is doing well, the Spanish solar developer and IPP is bullish of its prospects to grow its total installed and under operation capacity to 6.2 GW by 2025, and 18 GW by 2030. (Source: Solaria Energia y Medio Ambiente)

  • Solaria Energia increased its annual revenues by 90% for Q1/2021 to a total of €22.9 million
  • In the reporting quarter, it signed PPAs for 560 MW capacity and said for 2021 its 73% target is already secured
  • For another 2.17 GW capacity, Solaria is currently under negotiations with unidentified offtakers
  • Management reiterated 2021 guidance for total solar capacity in operation and under construction to grow to 2.15 GW

Solaria Energia y Medio Ambiente, the Spanish solar developer, had a good run in Q1/2021 with 90% annual increase in its total revenues of €22.9 million ($28 million). The company’s EBITDA increased 110% over the same period to €19.5 million.

Its power plants generated 82% more energy over previous year, with a total of 143 GWh.

Out of 1.57 GW power purchase agreement (PPA) capacity secured by the company, Solaria signed up 560 MW in Q1/2021, thanks to which it claims 73% of its 2021 target capacity is already secured. It is in negotiations with unidentified offtakers for another 2.17 GW.

The Spanish company exited Q1/2021 with €142 million ($173 million) in cash, and 1.828 GW capacity in operation and under construction. It is confident of increasing this number to 2.15 GW by the end of 2021. By 2025, its target is to reach 6.2 GW scaling it up to 18 GW by 2030 (see Spanish Solar Developer Aims For 18 GW Capacity By 2030).

“The heavy investments made in the last three years are beginning to bear fruit. In this sense, we have achieved remarkable figures,” said Solaria President Enrique Díaz-Tejeiro. “Likewise, with our goal of 18GW installations by 2030, we reaffirm our strong commitment to the energy transition and sustainability, contributing to a greener world.”

Management also shared that its 3 flagship projects—626 MW Cifuentes-Trillo, 595 MW Garoña and 782 MW Toledo projects—are on track to be delivered, represent 65% of the company’s installation target for 2022, at 3.15 GW. In Portugal, it plans to energize 500 MW capacity before 2025, and is interested in participating in more auctions coming up in the country.

Solaria is aiming to bring down its carbon emissions at the end of 2021 through a number of plans, including the Renewable Plan under which it plans to start renewable energy consumption for its facilities in Spain, Italy and Portugal this year.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.

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