Solaria Energia Reports Strong Q1 In 2023

Spanish Solar Developer Pumps In Money On Project Execution, Including €115 Million In Q1

Solaria Energia Reports Strong Q1 In 2023

Solaria Energia ticked all the right boxes in Q1/2023. (Source: Solaria Energia y Medio Ambiente)

  • Solaria Energia’s Q1/2023 revenues and EBITDA increased annually by 23% and 21% respectively
  • Company made a record investment of €375 million in the last 12 months of which €115 million was in Q1/2023
  • Says it is on track to achieve 3.08 GW target by summer 2024, and 4.5 GW by June 2024, up from 1.5 GW at present

Solaria Energia y Medio Ambiente has started the year on a high note with its Q1/2023 revenues increased 23% annually to €44.7 million and EBITDA by 21% to €40.1 million while claiming it is on track to reach 3.08 GW capacity under operation and construction by summer 2024.

Improvement in key financials were attributed to increase in energy output from new plants commissioned in 2022 and Q1/2023.

The Spanish solar developer’s total installed capacity currently stands at 1.526 GW, to be expanded to 2.05 GW by 2023-end, 3.08 GW by summer 2024, 4.5 GW by June 2025 and 6.2 GW by 2025-end. This roadmap is part of the company’s overarching aim of reaching 18 GW of total capacity by 2030 (see Spanish Solar Developer Aims For 18 GW Capacity By 2030).

Having commissioned its 626 MW Cifuentes-Trillo Solar Plant in March 2023, Solaria says it has obtained positive environmental permits for 3.98 GW projects in its portfolio. It expects to achieve financial closure for 1.1 GW solar capacity out of 5.6 GW for which it secured €1.7 billion from the European Investment Bank last year. This 5.6 GW capacity is spread across Spain, Italy and Portugal.

Over the last 12 months, the management says Solaria made a record investment of €375 million out of which €115 million were invested in Q1/2023 alone, reflecting the high rate of project execution it stated. Energy production for the company’s assets increased by more than 50%, reaching 332.7 GWh as new plants came online.

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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