The company Solaria have achieved an important level of diversification, allowing them to raise more than a billion ‘in cash’ over the next four years. The first permits are expected to be granted in the coming months Start building wind farms from 2025.
Solaria is the leading company in the development and generation of renewable energy in Europe today published the results achieved in the first half of 2024.
Results from Solaria
In this first half of the year Financial results have been resilientDespite the decline in wholesale energy prices, the impact on sales, revenues and net profit has been very limited, thanks to increased energy generation (+22%) and signed PPAs (long-term energy sales).
The financial results for the first half are as follows: turnover fell by 2% to EUR 97.8 million, EBITDA fell by 5% to EUR 84.3 million and net profit fell by 17% to EUR 41.6 million. .
On the other hand, sales decreased slightly, 2% compared to the previous year, offset by the increase in energy production by 22% to 1,224 GWh and sales of energy through PPA.
Within its strategic plan, Solaria has invested and realized 112 million euros in these first six months of the year new construction permits for an additional portfolio of 1 GW. It now has a diversified project portfolio of 18 GW, of which 3.1 GW is in operation and under construction.
Firm commitment to data centers
Last May, Solaria entered the data center industry by founding Solaria Data Center, whose purpose is to use its own electrical infrastructure associated with it energy generation in operations, construction and developmentfor the use of these projects.
Solaria will provide this facilities access to the electricity gridenergy through the signing of PPAs and other services related to the development of projects and facilities.
In reality, Solaria has already acquired 270 MW of secured capacity for consumption linked to its generation facilities and aims to reach a total of 1,000 MW through the demand requests already submitted.
As a relevant step forward in this new industry, Solaria has signed an agreement with Japanese technology company Datasection to create a Artificial Intelligence Data Center in its old industrial facilities in Puertollano (Ciudad Real).
This project has a first phase of 40 MW based on the clean rooms of the old photovoltaic cell factory and will have an initial investment of almost 500 million euros. A possible expansion of the facilities to 200 MW of power is also planned.
The company has a strong commitment to the development of this new industry, based on this project that the largest data center for artificial intelligence of Spain and one of the largest in the European Union.
Technological diversification
As for the hybridization with wind energy, Solaria continues its developments, hybridizing its solar installations and maximizing the use of its evacuation infrastructure, in such a way that it already has 400 MW under evaluation and expects to have its first construction permits within the portfolio by 2025 of more than 3,000 MW in the pipeline.
Hello good perspectives
An improvement in all operating figures is expected for the second half of the year as a result of the increase in energy pricesamong other factors. In this sense, Solaria It expects to reach EBITDA of around 210 million euros by the end of the year and increase cash flow to 94 million euros in the third quarter.
The company plans to look ahead to 2025 more extraordinary income thanks to the diversification of your business; the rotation of assets in Spain, the signing of new agreements with data centers and the increase of the capital of its land company Generia, reaching a total of 250 million cash. Following this trend, Solaria will generate a billion in cash over the next four years.
According to the chairman of SolariaD. Enrique Díaz-Tejeiro, “Solaria will be a key player in Europe’s digital and energy transition in the coming years thanks to the diversification of its business lines: solar and wind energy, batteries, hydrogen, data centers and land management. “We continue to make strong progress toward achieving our strategic plan.”