Elawan Energy announces unaudited results for 1H2022

Elawan has added 380 MW in operation in five countries since June last year and expects to reach 2GW in operation by early 2023.

• With this operating power, Elawan achieved an EBITDA in the first half of the year of 71 million euros.
• Profit before tax for the first half of the year amounted to 27.3 million euros.
• The profit generated stems from the 1.3 GW in operation that the company currently operates.

Elawan Energy, a global player in the renewable energy sector, today announces its unaudited results for the first half year to 30 June 2022. Elawan reported first half 2022 operating profit (EBITDA) of €71 million. This figure represents an increase of 114% compared to the previous year. Profit before tax amounted to 27.3 million euros in the first half of the year, an increase of 94% compared to the same period of the previous year.

These results are the result of the sale of energy associated with the 1.3 GW that the company currently has in operation, which includes the 380 MW commissioned in the last 12 months. Specifically, and with respect to June 2021, 250 MW photovoltaic in Spain, 16 MW wind in Belgium, 102 MW wind in South Africa, 5 MW photovoltaic in France and 16 MW wind in Brazil have been commissioned.

The company expects to reach 2 GW in operation by early 2023, as it has some 600 MW under advanced construction that will enter commercial operation between January and June next year. Of this capacity under construction, 476 MW are in Spain, 147 MW in the USA and 30 MW in Mexico. These projects represent an investment of more than 250 million euros in Spain and 160 million dollars in the USA.

Elawan Energy’s management has highlighted that these figures ratify the company’s strategy and growth plan, which is supported by its majority shareholder ORIX Group.

Sustained growth

During this period, significant investments have also been undertaken in the development of new projects that will enable the company to sustain the strong growth path it has been on since its creation in 2008.