SUBSCRIBE
PROFILE

Solaria increases revenues by 9% in the first quarter of 2024

Solaria records a 9% increase in revenues and enters the data center market, consolidating its position in Europe's energy and digital transition.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Solaria, a leading developer and producer of photovoltaic solar energy in Europe, announces its results for the first quarter of 2024. Despite low energy prices, revenues rose by 9% to €48.6 million, while EBITDA increased by 4% to €41.8 million. Energy production rose by an impressive 22% to 406 GWh.

Expansion and diversification

Solaria enters the data center market with the creation of Solaria Data Center. The company receives connection authorization from REE for 155 MW of demand, and has applied for a further 860 MW. Enrique Díaz-Tejeiro, President of Solaria, comments:

“We are continuing to diversify our activities by focusing on infrastructure and data centers, which will make us a key player in Europe’s energy and digital transition.”

Performance and growth

Solaria maintains visibility on 4.3 GW of projects, including those in operation, under construction and close to completion. The company is reducing its exposure to market prices by 50% until the end of the current year. Although net income fell by 5% to 23.6 million euros, higher energy production and infrastructure revenues offset this decline.

Strategy and innovation

By entering the data center market, Solaria is leveraging its existing electrical infrastructure and developing additional capacity to meet the growing energy needs of data centers and Artificial Intelligence. The recent purchase of 435 MW of photovoltaic modules at a record price of 9.11 euro cents per watt underlines the company’s commitment to innovation and efficiency.

Partnerships and future developments

Solaria is negotiating the closing of 400 MW of PPAs, which should stabilize revenues and reduce exposure to market fluctuations. The sale of non-strategic pipelines in the early stages of development generated additional revenues of nearly 13 million euros. The company plans to continue playing a crucial role in Spain’s digital transformation.
Results for the first quarter of 2024 demonstrate Solaria’s strength in a volatile price environment. With strategic diversification and investments in innovative technologies, the company is well positioned to lead Europe’s energy and digital transition.

  • Popular on energynews.pro
Floating solar market to hit $3.39bn by 2030 driven by land scarcity
Engie and Apple sign 15-year PPA for 173 MW in Italy
La Libye cible 1,6 million de barils par jour de pétrole d’ici fin 2026
Takaichi secures the LDP–Ishin axis, pro-nuclear, and eases fuel taxation
Niger maintains oil cooperation with China despite growing demands
TotalEnergies sells GreenFlex to Oteis to refocus on energy operations
TotalEnergies has signed an agreement to sell its subsidiary GreenFlex to engineering group Oteis, marking a step in its strategy to concentrate on energy production and supply.
VoltaGrid and Halliburton join forces to deliver distributed power to data centres
VoltaGrid and Halliburton launch a strategic collaboration to deploy distributed power systems for data centres, with an initial rollout planned in the Middle East.
Japan accelerates electricity futures with large-scale reform plan
Japan's power futures market is poised for rapid expansion, backed by a government reform requiring supply contracts up to three years in advance.
PermRock Royalty Trust maintains $384,000 distribution despite price pressure
PermRock Royalty Trust announces a $384,018 distribution to its unitholders, supported by higher production volumes despite a significant drop in oil prices and increased operating expenses.
Arcwood Environmental strengthens its industrial presence with the acquisition of ERG Environmental
The acquisition of U.S.-based ERG Environmental enables Arcwood to expand its footprint in the Great Lakes region and broaden its services to industrial and municipal sectors.
SLB net income drops to $739mn despite revenue boost from ChampionX integration
Energy services provider SLB saw its net income fall by 38% year on year in Q3 2025, even as the integration of ChampionX helped lift revenue by 4% sequentially.
EDF considers targeted asset sales to boost financial flexibility
EDF confirms it is exploring capital openings and calls for strict investment prioritisation, facing €54.3bn ($57.5bn) in debt and massive funding needs by 2040.
ReNew receives revised $8.15 per share bid led by Masdar and ADIA
A consortium led by Masdar and CPP Investments proposes to acquire all of ReNew at $8.15 per share, representing a 15.3% increase over the initial offer.
Huawei bets on grid-forming technology to consolidate ASEAN energy market
In Kuala Lumpur, Huawei Digital Power unveiled its grid-forming technologies, positioned as a strategic lever to strengthen power interconnections and accelerate energy market development across ASEAN.
Voltalia and IFC join forces to electrify Africa’s mining sector with renewable solutions
Voltalia has entered a strategic partnership with IFC to develop tailored renewable energy projects for the mining sector across several African countries.
World Bank strengthens support for Ghana’s struggling energy sector
Ghana will receive increased backing from the World Bank to stabilise its electricity grid, as the country faces more than $3.1bn in energy debt.
Repsol deploys intelligent agent platform to automate workflows
Repsol has launched a pilot platform of AI multi-agents, developed with Accenture, to transform internal organisation and improve team productivity.
ABB boosted by data centre demand and beats forecasts
ABB recorded double-digit growth in sales of equipment for data centres, contributing to a 28% increase in net profit in the third quarter, surpassing market expectations.
Infinis secures £391mn funding to accelerate renewable energy portfolio expansion
UK power producer Infinis has secured a £391mn ($476mn) banking agreement to support the next phase of its solar and energy storage development projects.
Julien Hueber appointed Chief Executive Officer of Nexans to succeed Christopher Guérin
The Nexans Board of Directors has officially appointed Julien Hueber as Chief Executive Officer, ending Christopher Guérin’s seven-year tenure at the helm of the industrial group.
JP Morgan Chase commits $1.5 trillion to critical minerals and industrial resilience
JP Morgan Chase has launched a $1.5 trillion, ten-year investment initiative targeting critical minerals, defence technologies and strategic supply chains across the United States.
African nations focus on local processing to boost critical minerals value
Amid rising global demand for low-carbon technologies, several African countries are launching a regional industrial strategy centred on domestic processing of critical minerals.
Maersk and CATL enter global strategic partnership for energy logistics
Maersk and CATL have signed a strategic memorandum of understanding to strengthen global logistics cooperation and develop large-scale electrification solutions across the supply chain.
Bercy veto blocks ABB’s attempt to acquire Legrand
ABB made several attempts to acquire Legrand, but the French government opposed the deal, citing strategic concerns linked to data centres.
Aramco takes control of Petro Rabigh with $702 million acquisition
Aramco becomes Petro Rabigh's majority shareholder after purchasing a 22.5% stake from Sumitomo, consolidating its downstream strategy and supporting the industrial transformation of the Saudi petrochemical complex.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.