- Net profit doubles to 20.5 million euros compared to the first quarter of 2021
- The company starts activities in the German market where it already has previous experience and increases its Italian targets to 5GW by 2030 due to good progress in the market
- Solaria diversifies its business lines; enters wind power generation and is committed to the purchase of land in Europe thanks to the creation of a new company, GENERIA
May 30, 2022
Solaria, a leading developer and generator of photovoltaic solar energy in Southern Europe, today announced its results for the first quarter of 2022.
During this period, Solaria has beaten its own forecasts, doubling its results compared to the same period last year. Revenues increased by 59% to 36.5 million euros, EBITDA climbed by 70% to 33.07 million euros and net profit increased by 98% to 20.5 million euros.
These figures are due to the exponential increase in the number of new photovoltaic plant connections. In line with the commissioning of these new installations, energy production increased from 143.2 GWh to 221.7 GWh during the year.
Increases target in Italy and returns to Germany
Solaria continues its international growth with a focus on southern Europe, fully aligned with the European Union’s objectives of reaching 45% renewables by 2030. As part of its growth plan in Spain, the company continues to increase the connection of new plants and expand its project pipeline. In the Italian market, the group is extending its growth target from 3 to 5 GW by 2030 as a result of good progress and the favourable market situation.
In other European countries, Solaria has decided to start activities in Germany, a market in which the company has already developed and implemented projects in the past and where there is currently a huge growth potential due to the country’s strong commitment to solar energy, announcing in April a target of 215 GW by 2030.
Entering wind power generation and creating GENERIA, a company dedicated to the purchase of land
Solaria is diversifying its business lines for the coming years. On the one hand, it will proceed to hybridise photovoltaic installations with other technologies, mainly wind power, which will involve the installation of an additional 1,200 MW of this energy source by 2030. Within the framework of Spanish legislation, Solaria will take advantage of the location of its plants in areas of great wind energy potential to hybridise projects in all those locations where this is possible.
On the other hand, it is committed to the purchase of land in Europe, for which it has created the company GENERIA. Land will undoubtedly be a scarce and strategic asset for the development of renewables in the next decade and GENERIA will be the ideal solution for the European Union
Committed to climate change
Solaria, in line with its ESG objectives, has reduced its emissions by 61% compared to the first quarter of 2021, due, among other measures, to the fact that it has replaced the electricity consumed in its facilities with renewable energy. It has also avoided the emission of 55,400 tonnes of CO2 thanks to the generation of photovoltaic solar energy.
According to Solaria’s Chairman, Mr. Enrique Díaz-Tejeiro: “The current geopolitical situation will result in an unprecedented acceleration of the deployment of renewables in the European Union. I am confident that Solaria will play a key role both in the generation of solar photovoltaic power, wind power for hybridisation projects and in the purchase of land through GENERIA”.