Solaria Energia 9M/2021 Financial Results

Solaria Energia’s 9M/2021 EBITDA Went Up 86% Annually

Solaria Energia 9M/2021 Financial Results

Solaria Energia exited 9M/2021 with a net profit of €37.6 million, having gone up 50% annually. (Source: Solaria Energia y Medio Ambiente, SA)

  • Solaria Energia’s 9M/2021 annual revenues increased by 65% to €80.2 million
  • Its total installed, under construction and announced solar PV capacity increased to 5.179 GW, equivalent to what it aimed for to achieve by 2024
  • The company has also ventured into a new business segment in the form of green hydrogen under an agreement with Enagas

Spanish solar energy company Solaria Energia y Medio Ambiente, SA increased its total installed solar power capacity till the end of September 2021 to 5.179 GW, comprising installed, under construction or announced projects.

This, it explains, is equivalent to what it aimed to achieve by the end of 2024 and 30% of its goal to report 18 GW in 2030 (see Spanish Solar Developer Aims For 18 GW Capacity By 2030). All of its 1.233 GW under construction capacity is fully contracted and backed by bank guarantees, according to the management.

At the end of 2020, the company had an installed capacity of 550 MW which it has grown by 275 MW to 825 MW.

It has reported increasing its total revenues in 9M/2021 by 65% annually to €80.2 million, EBITDA by 86% to €70 million and net profit by 50% to €37.6 million.

During the reporting period, it grew total energy production by 73% annually to 715 GWh due to new commissioned capacity, and net sales by 73% to €70.8 million. Management explained that for the net sales merchant exposure was limited to 10% and is expected to grow in coming quarter.

On global supply challenges the solar industry is facing currently, Solaria management admitted the supply chain is under pressure but stated that ‘delays are not material’. Along with expanding solar PV capacity, Solaria’s 2.0 strategic plan focuses on green hydrogen as well especially Spain that aims to contribute 4 GW out of European Union (EU) aim to develop 40 GW by 2030.

Earlier in November 2021, Solaria also entered a new business segment – green hydrogen – through an agreement with Enagas. The duo plan to use 200 MW of solar PV capacity to develop a green hydrogen plant.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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