Solaria has published its results for the fiscal year 2022. The company’s solar energy production increased by 63% over the previous year, reaching 1.4 TWh. Revenues also increased by 51% to 167.3 million Euro, EBITDA rose by 58% to 147.1 million Euro and net profit increased by 87% to 90 million Euro. Despite an investment of 331 million euros, Solaria has a healthy financial situation with 150.7 million euros in cash. The company has managed to outpace the industry over the past five years in terms of growth.
Solaria, the leader in Iberia
With 2,786 MW in operation and under construction, Solaria consolidates its position as the leading photovoltaic company in Spain. In addition, the company has reached 7.7 GW in connection points in Spain and Portugal, already reaching the total visibility of 6.2 GW that meets its target for 2025. 2022 was a pivotal year for Solaria, as the company continued to grow by more than 50% across all elements of its balance sheet while continuing to outperform the industry. It also made significant progress in the construction of the company’s flagship project, Cifuentes-Trillo 626 MW. Solaria has also obtained favorable environmental impact statements for an additional 2.5 GW of capacity, including the company’s flagship PV plants such as Cifuentes-Trillo (Guadalajara), Garoña (Burgos) and Villaviciosa (Toledo-Madrid). Solaria currently has a total of 4.5 GW with a favorable environmental impact statement.
An indicative agreement with the European Investment Bank
Solaria and the European Investment Bank (EIB) have entered into an indicative agreement for the appraisal and potential financing of EUR 1.7 billion for the construction of 5.6 GW of Solaria’s project portfolio, subject to the appraisal and approval of the project by the EIB. These projects will be developed in Spain (4,845 MW), Italy (382 MW) and Portugal (375 MW).
Compliance with the 2030 roadmap
Solaria is following its roadmap for 2030, in line with the European Union’s objectives and its REPowerEU plan, which foresees the installation of more than 50 GW of solar energy per year, reaching 600 GW in 2030. In the countries where the company is present, 28 GW per year will be installed, which represents more than 50% of the European Union’s target. Last November, Solaria received the highest ESG rating from Morgan Stanley Capital International (MSCI), moving from “A” to “AAA” and placing it among the top 15 utilities.
