Grenergy Renovables S A : shoots up its revenues by 33% and its Ebitda by 21% in 2022

Grenergy shoots up its revenues by 33% and its Ebitda by 21% in 2022

• The listed company reaches 1.7 GW of installed capacity or under construction and 11.7 GW of pipeline
• The company presents its 2022 sustainability report, meeting its ESG objectives for that period

Madrid, 27 February 2023.- Grenergy, the listed renewable energy producer and specialist in the development, construction, and management of photovoltaic, wind, and storage projects, shot up its revenues by 33% to 293 million euros and increased its Ebitda by 21%, thus reaching 50.2 million in 2022, as reported today to the National Securities Market Commission (CNMV).

These results were marked by the entry into the operation of own parks and the sales of energy associated with them, which practically tripled to 57.8 million euros (+190%). It also reaches 1.7GW of installed or under construction capacity and reaches a pipeline of 11.7GW of solar and wind projects, while advancing in the 7.7GWh 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; Latin America, with 4.5 GW and 40%, and the US, with 2.6 GW and just over 20%.

In all of them, the company has deployed a growth strategy over the last year. In Europe, it advanced its plans by entering Germany, with clear growth plans from its Berlin office in the face of the ambitious renewable penetration objectives that the German government intends to meet in this decade.

In Latin America, the company has recientrly sold three SSDG solar parks in Chile for

41.3 million euros, as well as a total of 222MW in Peru. And in the US, it has consolidated its commitment to this country with the advance purchase of the remaining 60% of the photovoltaic and battery project developer Sofos Harbert Renewable Energy and the creation of Grenergy US.

The company has made storage one of its priority targets in 2022. This momentum resulted in outstanding progress with 39 projects and nearly 7.7 GWh under development.

In capital markets, the company, which capitalizes around 900 million euros, was strengthened in 2022 with the accelerated capital increase of 90 million euros last June. Also with the successful renewal of its green promissory note program of 150 million euros and the issuance of green bonds for 52.5 million euros.