Solaria Energia’s H1/2021 Financial Results

Spanish Solar Company’s Total Project Pipeline Swells To 14.2 GW

Solaria Energia’s H1/2021 Financial Results

Having delivered a strong H1/2021 when its cumulative pipeline grew to 14.2 GW, Solaria Energia is now looking forward to October 2021 Spanish solar auction. (Source: Solaria Energía y Medio Ambiente, SA)

  • Solaria Energia’s H1/2021 revenues grew 73% annually to €49.5 million, while EBITDA went up 89% to €42.5 million
  • Company’s total project pipeline grew to 14.2 GW at the end of June 2021
  • It is currently not signing any new PPAs as the company plans to re-evaluate prices considering surge in spot and forward prices

Solaria Energía y Medio Ambiente, SA, the Spanish solar energy company, expanded its total solar project pipeline to 14.2 GW at the end of June 2021, including more than 1.5 GW new pipeline in Spain and Italy. Of this, 12.6 GW pipeline exists in Spain alone. The company has set itself a target to achieve 18 GW of installed solar PV capacity by 2030 (see Spanish Solar Developer Aims For 18 GW Capacity By 2030).

It had a total of 1.958 GW under operation and construction at the end of the reporting period, and says it has high visibility over more than 4.5 GW, above its target for 2024.

Solaria generated 430 GWh clean energy from its plants in H1/2021, 120% more than last year. ‘Highly favorable price environment’ in Spain and Italy helped it increase net sales from last year by 86% to €43 million.

The Spanish company’s revenues improved 73% to €49.5 million, while EBITDA went up 89% to €42.5 million and net profit by 60% to €23.6 million on annual basis.

Management said it has put the new power purchase agreement (PPA) signings on hold as it needs to re-evaluate prices considering surge in spot and forward prices. Solaria Energia is also looking forward to the new 3.3 GW solar auction in Spain due for October 2021 (see Spain To Hold 2nd RE Auction). During Q1/2021, it signed PPAs for 560 MW capacity (see Solaria Energia Grew Annual Revenues For Q1/2021 By 90%).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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