Greenvolt profits double to €16.6 million in 2022

The renewable energy company Greenvolt more than doubled its profits by 114% to €16.6 million in 2022.

The company’s net profits were €16.6 million, a growth of 114% on 2021 according to the company led by João Manso Neto.
The result was driven by the “consistent performance” from its biomass power stations as well as the positive results in the ‘Utility-Scale’ area.
The before tax profit (EBITDA) excluding transaction costs grew 47% to €94.6 million. In Portugal the company has five forestry waste biomass stations with an installed capacity of 100 megawatts (MW) and in the UK has a 51% share in the TGP station with 42 MW.
For the period under analysis, more than 1 terawatt-hour (TWh) was injected into the network, an increase of 17%.
Between January and December 2022, revenues from the biomass segment represented €195.2 million, a like-for-like increase of 48%.
Also in 2022 the group carried out its first assets rotation operation with the signing of a sale agreement for its portfolio in Poland.
In the wind and solar energy segments the results took into account part of the margin from the first sale process of eolic assets (50 MW), with a contribution of €13.6 million for EBITDA.

Picture: Lusa – António Cotrim.