June 2 (Renewables Now) - German independent power producer clearvise AG (ETR:ABO) expects its revenue to grow in 2022 supported by higher electricity production and a strong start to the year.
Revenue is seen in the range of EUR 40 million to EUR 45 million (USD 48.2m) compared with EUR 32.9 million in 2021, clearvise said on Wednesday. The growth will be driven by an increase in the electricity output from the existing portfolio which is expected to generate between 480 GWh and 540 GWh in 2022 after unfavourable weather conditions led to a decline to 366.5 GWh last year.
The company expects its adjusted group EBITDA to grow to between EUR 28 million and EUR 32 million this year from EUR 22.57 million in 2021.
Clearvise noted that the first quarter of 2022 was strong with electricity production rising 16% year-on-year and revenues surging 30%.
The power producer aims to expand its portfolio to 1 GW by 2025. Currently, the company has around 133 MWp of photovoltaic generation capacity in operation, a further 26 MWp in development and around 49 MWp of contractually secured capacity.
(EUR 1 = USD 1.071)