GreenVolt posts €11.9M for 2021

 In Energy, News, Renewables

The renewables energy company GreenVolt has posted profits of €11.9 million for 2021.

The company headed by João Manso Neto said that the biomass segment which includes power stations in Portugal made the biggest contribution to the group’s results in 2021.
GreenVolt enjoyed a growth of 172% in the third quarter in a total of €3.6 million net result for the period.
The company’s EBITDA stood at €61.6 million (+87%), with the company highlighting “a theoretical scenario in which had all acquisitions been made by 1 January 2021, then the pro forma EBITDA for the whole year would have been around €75 million”.
Total revenues stood at €141.5 million (+57%) with “the waste biomass segment making the greatest contribution given the maturity of this business”.
The company also highlights a “several projects in the pipeline to develop solar panel and wind energy for around 5.8 gigawatts, a growth of 1.5 times the pipeline of projects that the company already had when it launched a PAO”.
GreenVolt says that the biomass segment which includes power stations in Portugal, structure costs and the costs of the Tilbury power station had made the most contribution to the group’s results in 2021, which was to be expected given the maturity of the business.
In terms of acquisitions in 2021, the company highlighted the purchase of Tilbury Green Power in the UK in the biomass waste segment, as well as the purchase of V-Ridium which is a solar and wind power operator.