Grenergy quintuples its profit in 2023, up to 51.1 million, with record income of 400 million

MADRID, 28 Feb.

Grenergy quintuples its profit in 2023, up to 51.1 million, with record income of 400 million


Grenergy registered a net profit of 51.1 million euros in 2023, which represents almost five times (395%) the profits of the previous year, when they stood at 10.3 million, as reported by the company to the National Commission this Wednesday. of the Stock Market (CNMV).

The firm increased its income by 37%, a historic figure for Grenergy, to 400.2 million euros, and more than doubled (108%) its gross operating result (Ebitda), thus reaching 104.5 million euros.

The company has explained that these results have been driven by higher energy sales as a result of the entry into operation of new photovoltaic plants, as well as the asset rotation plan.

In addition, Grenergy launched the 'Valkyria' project in early 2023, which included the sale of a portfolio of projects of which 85% have already been sold. Specifically, 447 megawatts (MW) have been rotated, worth 445 million euros.

The company's portfolio closed the year with 15.4 gigawatts (GW) in photovoltaics and 11.3 gigawatt hours (GWh) in storage, thanks to the "good progress" of the projects in its different geographies, especially highlighting the contribution of countries like Chile or Italy.

Grenergy has highlighted that the construction of the Oasis de Atacama project, in Chile, "is progressing at a good pace and the first phase is scheduled to come into operation this year."

The company has announced the closing of green financing with Banco Santander, MUFG and Natixis for a value of 175 million euros for the construction of the José Cabrera and Tabernas photovoltaic plants, located in Guadalajara and Almería, respectively.

In terms of sustainability, Grenergy has "successfully" met all the objectives of its 'Roadmap' set until 2023, which laid the company's ESG foundations.

In addition, this Wednesday it published its '2023 Sustainability Report', which includes, among others, its 'Net Zero' strategy with which it commits to being carbon neutral in 2040.

The CEO of Grenergy, David Ruiz de Andrés, has highlighted that these are the company's best results, "in a historic year at an operational level, with the signing of large agreements and the announcement of large investments", predicting that "the best is yet to come." arrive".