Grenergy announced increasing revenue and profit
Post date: 27/09/2021 - 12:40
Spanish developer and EPC company Grenergy Renewables SA achieved revenue of €82.5 million ($96.7 million) in the first half of 2021, an increase of 42 percent compared to €58.1 million in the same period of 2020. The Development & Construction division contributed €74.6 million (2020: €57.2 million), revenue from the sale of energy was €6.8 million (2020 none), Services were €1.1 million in H1 2021 and €0.9 million in the last year.
Net income increased by 49 percent from €4.5 million in H1 2020 to €6.8 million ($7.9 million) in the reporting period.
The company has 338 MW PV plants (Spain 200 MW, Chile and Mexico 138 MW) in operation, furthermore 60 MW wind plants. Another 245 MW PV are under construction. Total project pipeline increased year-over year by 1.7 GW to 6.3 GW. This include 1.4 GW of projects either in operation, construction or backlog. Eighteen projects with cumulative 2.6 GW are in advanced development, with 14 of them are PV projects (about 2.4 GW).
Grenergy Renovables is a Spanish company created in 2007, an independent producer of energy from renewable sources, mainly wind and photovoltaic, which has been listed on the Continuous Market since 2019. Its business model covers all phases of the project, from development, through construction and financial structuring to operation and maintenance of the plants.