hit tracker
Monday, March 27, 2023
HomeLatest NewsGrenergy reduced its profits by 36% due to the investment in its...

Grenergy reduced its profits by 36% due to the investment in its own parks

Date: March 27, 2023 Time: 12:37:58

The Grenergy company lost a net profit of 10.3 million euros in 2022, which represents a decrease of 36% compared to a year earlier, as reported by the company to the National Securities Market Commission (CNMV) and collects Europa Press.

However, the firm boosted its revenue by 33% to 293 million euros and increased its gross operating profit (Ebitda) by 21%, thus reaching 50.2 million in 2022. The company has attributed these results to the entry in the operation of own wind farms and energy sales associated with them, which practically tripled to 57.8 million euros (+190%).

It also reaches 1.7 GW of installed or under-construction capacity and reaches a pipeline of 11.7 GW of solar and wind projects, while advancing 7.7 GWh of storage projects under development. This portfolio of projects is distributed among its three main markets: Europe, with 4.6 GW and 40% of the total thereof; Latin America, with 4.5 GW and 40%, and the United States, with 2.6 GW and just over 20%.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

Most Popular

Recent Comments