Enerside’s General Shareholder’s Meeting approves the management of the financial year 2022, the year of its ipo

  • The company, which multiplied its revenues by 4 in 2022 to €43M, explained to shareholders the increase in value of 42% of its assets since the IPO in March 2022.
  • Enerside Energy made investments of €48M last year to be able to start operating as an independent power producer in 2023. Just this week it has announced the connection of its first own park to the network in Chile and the state in tests of a second in this same country.
  • The Board of Directors of Enerside, chaired by Anna Ma Birulés, is composed of 8 members, and complies with the best practices of international corporate governance, with three independent directors.

Barcelona, June 16, 2023. Enerside Energy, a Spanish company vertically integrated in the photovoltaic solar industry, held today the General Shareholders’ Meeting that approved the accounts and management for the 2022 financial year, the year of its debut as listed on BME Growth.

The General Shareholders’ Meeting approved the company’s accounts and management for the 2022 financial year, the year in which Enerside Energy multiplied its revenues by 4 to €43M, above the forecasts announced by the company for the year.

The CEO of Enerside Energy, Joatham Grange, who was accompanied by the Chairman of the Board of Directors, Anna Ma Birulés, and the rest of the directors of the company, explained to shareholders that the company has increased by 42% the value of its assets since the IPO, according to the report carried out by a Big4 and which details that the value of Enerside’s asset portfolio to the end of the 2022 financial year was 236 million euros, which represents an increase of €70M, compared to the date of departure to BME Growth on March 4, 2022.

Italy operation

During his speech to shareholders, Joatham Grange, also explained the agreement for the creation of a joint venture in Italy with the developer AGE, announced during the first quarter of this year “that will position Enerside Energy as one of the leaders in solar photovoltaic in Italy and that demonstrates the ability of the company to grow through corporate operations”, said the company’s CEO.

The operation, which is expected to close in the coming weeks, will involve increasing Enerside’s global portfolio to 7.1 GW, diversified in high-growth geographies such as Spain, Italy, Brazil, and Chile.

Connection of the first own parks

Enerside Energy made investments of €48M last year to be able to start operating as an independent power producer in 2023. Just this week it announced the connection of its first own park to the grid in Chile, Renaico, of 7.5 MW, and the state in trials of a second, Linares, of 5.8 MW, in this same country, as Joatham Grange has also explained to shareholders.

With the start-up of its first park as an independent power producer (IPP) “the company advances in the fulfilment of its objective of having already this year with recurring revenues generated by this branch of activity that it decided to address with its new strategic plan”, highlighted the CEO of the company during the meeting.

It was precisely with the aim of being able to develop its own parks that, in March of last year, Enerside carried out a capital increase and began trading on BME Growth. Since then, the company has experienced strong growth in its revenues from its activities for third parties, which will now be complemented by the start of the recurring EBITDA contribution derived from its activity as a self-employed generator.

Governance and ESG

The General Shareholders’ Meeting also approved the management and performance of the Board of Directors during the 2022 financial year, as well as the ratification of the appointment and re-election of the proprietary director, Alejandro Alorda Derksen, for the statutory term of four years.

The company has a Board of Directors, in accordance with the best practices of international corporate governance. As a further example of good corporate governance, the company appointed Anna Ma Birulés (independent director) as Chairman of the Board of Directors last January. The company’s board of directors also has 2 other directors of the same nature who look after the interests of minority shareholders. Two executive directors and three proprietary directors complete Enerside’s highest governance body.

During the 2022 financial year, Enerside made significant progress in its sustainability plan and published non-financial information statements for the first time.

It has highlighted the calculation of the carbon footprint of scope 1, 2 and 3 for all the group’s activities (1,163.6 tCO2); the calculation of waste on site and percentage of recycled (88.8%); obtaining ISO 9001, 14001 and 45001 certificates for the entire group (4 locations and 3 business lines), among other indicators.

It has also obtained for the second consecutive year the rating of Sustainalytics, a world leader in responsible investment and sustainable finance, with which the company has been placed as the 18% best in the construction and engineering sector worldwide, and in position 55 of the total of 339 with the best sustainability rating.

Also noteworthy is the “strong” score in ESG risk management. Specifically, the rating highlights that the company has strong ESG reporting practices and a management committee that has responsibility for ESG issues.

About Enerside

Enerside is a vertically integrated company in the photovoltaic solar energy sector, which stands out for its strong industrial profile and geographical diversification in the markets with the greatest potential for solar energy (Spain, Italy, Brazil, and Chile).

The company is currently immersed in promoting the development of 5.5 GW in differentiated, highly qualified projects with an advanced degree of maturity that give it an excellent position to capture demand growth and a great capacity to generate value, through the sale of projects in the RTB (Ready to Build) phase and with the direct exploitation of part of the pipeline as an independent energy producer (IPP).

More information at  www.enerside.com

Press contact:
Laura Sabaté
Project Manager
Tel. 616 952 066

Do you want to know what we are working on now? We will tell you!