Spain's Solaria boosts profit by 86% y/y in 9-mo 2022

November 17 (Renewables Now) - Spanish solar power producer Solaria Energia y Medio Ambiente SA (BME:SLR) said it had posted a net profit growth of 86% year-on-year for the nine-month period ended September 30, earning EUR 69.7 million (USD 72.1m).

Its net sales were up by 53% to EUR 107.9 million on increased power production as new solar farms came online at the end of 2021 and in 2022. Solaria’s solar farms generated 1,143 GWh during the reporting period, up by 60% thanks to the newly commissioned plants.

With other income, total revenues rose by 51% to EUR 121 million, while EBITDA totalled EUR 109 million, up 56%, the company said in the financial statement.

At present, Solaria has around 1,000 MW of solar farms in operation and some 1,034 MW under construction, including the 626-MW Trillo solar project in Spain. These new plants will be gradually connected to the grid over the coming months, Solaria added.

(EUR 1.0 = USD 1.034)