Solaria increases profits by 19% in 2023, to a record of 107.5 million.

Solarium Received record net profit of 107.5 million euros in 2023, which represents 19% increase compared to last year, the company said.

income company increased by 37%up to 230 million euros, while Gross operating profit (Ebitda) increased by 36%. until reaching 200 million euros.

Over the past year the group renewable 2.27 terawatt-hours (TWh) were produced, a 62% increase in production compared to the same period the previous year.

(Solaria receives administrative permission for the construction of the 595 MW Garogna project)

There is already a solarium 3,188 megawatts (MW) in operation and construction in Spain, Italy, Portugal, Greece and Uruguay.. In addition, the company has already started work on its second flagship. Garogna photovoltaic complex with a capacity of 700 MW. Its investments in 2023 amounted to 329 million euros.

Next three years

The company indicated that it has secured financing for the next three years thanks to the framework agreement 1.7 billion euros which signed last September with European Investment Bank (EIB).

In addition, he signed a contract with the EIB and Santander Bankfirst loan under this financing structure totaling €515 million for construction 24 photovoltaic plants are located in Spain. total installed capacity 1.08 gigawatts (GW).

In 2021, the company announced its goal to achieve 18 GW by 2030 and at that time he had a portfolio 10 GW of which 95% were in Spain and 5% in Portugal.

Solaria currently has a portfolio of projects. 18.9 GW much more geographically diversified, of which 53% live in Spain, 30% in Germany, 14% in Italy and 3% in Portugal.

In terms of technological diversification, the company continues to focus on innovation in other business areas such as Hybridization with wind energy and batteries. In this sense, Solaria will develop wind projects to optimize its asset base, using the same connection points and the same evacuation infrastructure.

Storage and hybridization

On the other hand, he will develop projects hybrid energy storage with photovoltaic solar energy systems.

Possible emergence of new capacity payment regulation in Spain by the end of the yearalong with significant reduction in battery costs and funding for said technology make up the perfect triad for Solaria’s commitment to energy storage.

Thus, a renewable energy firm develops pilot project for battery storage at the 20 MW El Baldio power plant (Caceres, Extremadura).