Back 06/10/2021 news

Greenalia keeps consolidating its growth in 1H21 with the go live of new projects

  • The company chaired by José Maria Castellano reaches a 16.4 million euros EBITDA versus the 2.8 million one in the same period last year, exceeding the forecast set by the Covid Resilience
  • The figures reflect the consolidation of the company’s Develop & Own business model that expects to maintain the recurrence of revenue from the sale of energy in the long term

The renewable energy company Greenalia closed the first half of 2021 with revenues of over 36 million euros and a 16.4 million euros EBITDA, which means a fivefold increase in this figure compared to the same period of the previous year and an 86% increase in revenues.

The company’s CFO, Antonio Fernández-Montells, shared that “this semester, with the go-live of new projects, we have undoubtedly consolidated our business model”. Greenalia currently has 6 facilities in operation (totalling 125 MW), “their kick-off and efficiency improvement measure we adopted have allowed us to increase revenues.” 
With these figures, Greenalia exceeds the objectives that had been set in the organization’s 20-21 Covid Resilience Plan, which “makes us optimistic and able to achieve, come year end, results above what was initially forecasted. In our initial plan we had established the objective of a 20 million euros EBITDA “, Fernández-Montells advanced.

Internationalization: USA Projects
Another company milestone should be highlighted was the acquisition by Greenalia of a renewable energy company in the US with two ready-to-build   projects, the first of which is the MISAE II FV Project totalling 695 MW solar photovoltaic (Texas, USA) considered one of the largest in the country, to which we also add another 170 MW battery storage project.
Given that both were acquired under Ready to Build conditions, the forecast is that the construction of the photovoltaic installation can begin in 2022 and reach commissioning by the end of 2023, which will accelerate the implementation of Greenalia in the US.

For Greenalia, this transaction constitutes great leverage with which to ensure the development and fulfillment of its strategic plan and expand the pipeline diversification to 5 technologies (onshore wind, offshore wind, photovoltaic, storage and biomass) in addition to allowing it to operate in two currencies (euro and dollar), which offers greater guarantees of shielding against market oscillations.

New developments in Spain
Fernández-Montells also advanced that the second part of Eolo “Eolo I CBT” is in the final permitting phase, the three wind farms planned in this program (Campelo, Bustelo and Monte Toural), located in the Galician community, already have an Environmental Impact Statement (EIS) the required Administrative Authorization and are close to financial closure, expected to be formalized this quarter.

ESG Strategy
In parallel to the asset development milestones, Greenalia is advancing and strengthening its corporate ESG policies (environmental, social and governance). The Board of Directors has just approved Greenalia’s Green Book containing its main ESG policies to be made available to the public. This Green Book becomes a transversal policy integration document of essential environmental, social and governance sustainability vertices.

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