Spanish PV installer EiDF boosts internet revenue by 529% y/y in 2021

April 28 (Renewables Now) – Spanish photo voltaic power agency Energia Inovacion y Desarollo Fotovoltaico SA (BME:EIDF) posted a internet earnings of EUR 7.1 million (USD 7.46m) in 2021, up by 529% year-on-year, benefiting from an exceptional year for photo voltaic self-consumption in Spain and the choice to department out into the large-scale growth.

The corporate recorded a gross sales development of 128% year-on-year to round EUR 45.6 million, in keeping with its monetary outcomes for the fiscal 2021. Its EPC division elevated gross sales by a whopping 2,935% to EUR 20.4 million, whereas the photo voltaic self-consumption division, EiDF’s most important enterprise line, grew gross sales to EUR 25.2 million, up by 28.6% in comparison with 2020.

The self-consumption division, which gives companies for the business and industrial (C&I) sector solely, earned its revenues by executing 323 tasks for a complete of 63.1 MW. Of those, 29 tasks totalling 30 MW had been delivered beneath energy buy agreements (PPAs), up by 322% on the 12 months, EiDF stated.

The corporate expects worth volatility on the power market to additional drive clients in the direction of the PPA mannequin, saying that its portfolio of PPA-based self-consumption tasks for the primary quarter of 2022 stands at 33.5 MW.

Different figures within the 2021 monetary report present development as nicely — earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) surged by 236% to EUR 10.4 million, whereas EBIT went up by 381% to EUR 10.2 million.

EiDF ramped up exercise in 2021 to prop up its energy era division, which can produce photo voltaic power from large-scale crops and market the electrical energy by way of the corporate’s new retail unit to present self-consumption clients. At current, the era division has 2,207 MW of tasks within the growth pipeline. The corporate expects to have some 150 MW of them in operation in 2022.

EiDF’s retail enterprise received a lift this 12 months with the acquisition of Seville-based power and gas retailer ODF. EiDF needs this space of enterprise to be able to supplying round 2 TWh of electrical energy in 2025.

(EUR 1.0 = USD 1.051)

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