ENERSIDE CONNECTS ITS FOURTH SOLAR PARK THIS YEAR AND ALREADY HAS 27 MW DELIVERED IN THE FIRST MONTHS OF 2022
- The vertically integrated solar photovoltaic sector company is moving forward with its business plan as expected and is connecting the 10.3 MWp Mandinga solar farm in Chile.
- The company currently has 91MW under construction for third parties and plans to start an additional 65MW during 2022.
- Only in the month of May, Enerside already had practically the same revenues in the construction activity (EPC), that all revenues in 2021 which amounted to 3 million euros.
- The positive progress of the EPC business increases the investor attractiveness of the value that debuted on the Stock Exchange in the BME Growth last March.
Barcelona, 3rd June 2022. Enerside Energy, a Spanish company vertically integrated into the photovoltaic solar industry, will connect next week its fourth solar park so far this year, evidencing the positive evolution of its business plan with which it expects revenues of 40 million euros this year, multiply by about 4 times its turnover of 2021.
In 2022, revenue generation will be led by the construction of third-party facilities. The 126 MW awarded as of December 31st, will contribute a very relevant part of the turnover, almost ten times more than in 2021. To these revenues, others will be added such as those derived from the generation activity as an independent energy producer (IPP), the sale of developments and new contracts awarded by EPC with third parties, up to the 40 million euros expected.
New connected parks
The new park connected this week, Mandinga, located in Chile and with 10.3 MW of installed capacity, adds to those already connected this year by Enerside and which represent a total of 27 MW. The other three parks are also located in Chile and the other two in Brazil (Cabildo, Jequitinhonha-I and Nova Cruz).
With these connections, Enerside is evidencing the positive progression of its activity in the EPC business, in which it already made a significant leap during the 2021 financial year, and which closed with contracts already awarded for 126 MW.
The construction of the 126MW will allow the production of the equivalent of the annual electricity consumption of more than 24,000 Chilean and Brazilian households. In addition, the generation of green energy from the plants will save 100,000 tons of CO2 per year.
During the construction of each of the plants, more than 300 direct jobs are generated among the inhabitants of the region.
Growth capture with over 30 MW already contracted this year
Enerside is proving its current and future ability to capture solar growth opportunities in Latin America and Europe, its core markets. After having passed just the first half of the year, the company already has 91 MW of photovoltaic solar power under construction of the total of 156 MW that make up its portfolio after winning additional contracts for 30 MW this year. The company plans to start the construction of the parks of the new contracts in the coming months.
Attractive value for investors at BME Growth
The positive progress of EPC’s business line, together with the construction of its first parks as an independent energy producer (IPP), increases Enerside’s attractiveness to investors.
Enerside Energy started trading on BME Growth on March 4th with a market capitalization value of 204 million euros, after successfully closing a capital increase of 34 million euros. In 2021, the valuation of the company multiplied by more than 3 times, increasing its value to 170 million euros, from 50 million euros in the last round of financing in 2020.
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).
Enerside is currently immersed in promoting the development of 4.5 GW in differentiated, highly qualified projects with an advanced degree of maturity that give it an excellent position to capture demand growth and a large 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).
Learn more at www.enerside.com
Phone Num. 616 952 066