Grenergy achieved revenue of €150.4 million in the first nine month of 2021
Post date: 25/11/2021 - 12:14
Spanish developer and EPC company Grenergy Renewables SA achieved revenue of €150.4 million ($186 millon) through September 2021 from the sale of solar projects and the generation of energy from its operating renewable energy plants, an increase of 82 percent compared to the same period 2020. The company maintained its EBITDA at €18.2 million (9M 2020: €17.9 million) and achieved profits of €6.9 million ($7,7 million) in the first nine months of the year, compared to €8.9 million in the first nine month of 2020. Grenergy invested €139.7 million, mainly in the construction and development of the Escuderos solar farm in Cuenca and distribution projects in Chile and Colombia.
Precisely, in this period Grenergy agreed the sale of solar parks in Chile totaling 55 MW. In addition, it connected the Escuderos farm (200 MW) and two more in the Andean country, reaching 420 MW in operation.
Including several additional projects, Grenergy increased the development pipeline to 6.3 GW, with 2.6 GW in advanced development. The company forecast an installed capacity of 3.5 GW in operation by 2024, diversified between the Latin American (Chile, Peru, Mexico, Argentina, Colombia) and European markets (Spain, Italy and the United Kingdom).