– Invests €400 million in 2025 to accelerate growth and strengthen its asset platform.
– Signs a second 213 MW data centre with Merlin.
– Closes its first hybrid Solar (426 MW) and BESS PPA (600 MWh).
– Full results available at: PowerPoint Presentation
Madrid, 26 February 2026. – Solaria Energía y Medio Ambiente closed the 2025 financial year with a financial performance that marks a turning point in its trajectory. The company recorded total revenues of €303.4 million, 27% more than in 2024, driven by growth in the infrastructure business, which increased by 70%, and by the entry into operation of new capacity.
EBITDA reached €266.1 million, 32% higher than the previous year and 6% above the target communicated to the market, reaching historic highs. Net profit rose to €137.4 million, 55% more than in 2024, reflecting the platform’s robust cash generation and operating leverage.
During 2025, the company allocated €400 million in investment, consolidating its organic growth and strengthening its competitive position. The year closed with 3.1 GW of operational installed capacity, 82% more than the previous year, and an additional 1.3 GW under construction, including the commissioning of the first hybrid batteries in Spain.
Diversification is now one of the essential pillars of value creation. Solaria is advancing its expansion into Italy, Germany and Portugal, reducing geographical concentration and aligning itself with markets with high structural demand.
Since Capital Markets Day in November 2025, Solaria has tangibly accelerated its strategic objectives in storage. In storage, the company has connected a second 72 MWh hybrid battery in Spain during this time and, according to the roadmap presented at the CMD, has 1,360 MWh of BESS in operation and under construction in Spain, with a storage development portfolio in Europe reaching 5.1 GW of power, of which 1.9 GW already have secured connection permits.
It maintains its objective of reaching 6.4 GWh of BESS capacity in 2028 in Italy, Portugal and Germany within its roadmap. The creation of the pan-European platform Gravyx —a pan-European joint venture with Stoneshield Capital— with a portfolio of 14 GWh in Europe, reinforces this ambition, with a view to developing large-scale storage in different European markets and maximising returns through efficient capital structures.
Internationalisation is consolidated as the second key strategic axis. In Italy, the company has obtained new relevant authorisations and is making progress on large-scale hybrid projects such as La Spina Solar (750 MW, pending EIS). In Germany, Solaria expects to reach ready-to-build status for 200 MW in the first quarter of 2026. In Portugal, it is promoting the Casal da Valeira & Vale Pequeno hybrid project (800 MW), with RTB secured and talks with REN to accelerate the connection infrastructure. This expansion reduces regulatory risk and diversifies future flows.
Added to this is technological diversification towards storage and hybrid solutions, as well as the strategy of alliances and asset rotation, which allows for a ROE of over 20%, in line with the strategic commitments communicated to the market.
In the commercial sphere, 2025 has been a decisive year in the consolidation of long-term contracts with the signing of PPAs with Merlin Properties, Trafigura and Repsol for 825 MW.
As a new development, in 2026, the company announced the signing of a new contract with Merlin Properties for a second 213 MW data centre, as well as its first hybrid solar and battery PPA associated with this data centre, combining 426 MW of solar power over 40 years with 600 MWh of storage over 10 years.
Solaria has announced that it is negotiating a total of 1.1 GW in hybrid PPAs, as well as being in advanced negotiations with Tier 1 customers for approximately 500 MW additional for data centres.
The agreements linked to data centres represent a transformational vector for Solaria. The contracts signed and under development could generate up to €3 billion in revenue over 40 years and more than €1 billion in free cash flow, with a notable EBITDA conversion.
Arturo Díaz-Tejeiro, CEO of the company: ‘We are rigorously executing the plan presented at our Capital Markets Day. The progress made in storage and international expansion confirms that Solaria is no longer just a solar developer, but a European energy infrastructure platform ready for Europe’s new industrial and digital cycle.’
With record EBITDA, rapidly expanding net profit and a rapidly accelerating asset base, Solaria is consolidating its position as a long-term European energy infrastructure platform, aligned with industrial electrification, energy sovereignty and the new structural demand of the digital economy.
