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    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

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    SeaMade secures €250m European loan for Belgian offshore wind farms

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

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    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

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    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    GE’s digital power transformers selected for multiple projects across the globe

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    bp to invest up to £18 billion in UK energy system by 2030

    Giant offshore wind energy projects to be built in Irelands seas

    Kier to deliver onshore converter station for offshore wind project in the north east

    Statkraft seeks planning nod for 49.9-MW Scottish wind farm

    VSB Group Expands in France with Acquisition of 143.5 MW Wind Power Portfolio

    Norway to invest in renewable projects in developing countries

    Italian Solar Farms, Matrix in Strategic Partnership with Energia Aljaval

    China installed 48.2 GW of new solar capacity in 2020

    Solek Group signs deal to build solar power plants in Chile

    Trina Solar betting on largest wafer size and third cut cells for 500W-plus modules

    TotalEnergies to Acquire SunPowers Commercial & Industrial Solar Business

    Vattenfall Wind

    UK Government grants consent for Vattenfall’s Norfolk Vanguard Offshore Wind Farm

    New DNV GL class rules for floating offshore wind energy expands industry horizon

    Norway to launch 1.5 gigawatt offshore wind tender

    Atlas and Hitachi to develop energy storage systems for renewable projects

    Velto Renewables supports the 360 MW offshore wind farm London Array

  • Market Moves
    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

    Xcel Energy agrees to buy Mankato Energy Center for $650m

    UK renewable energy overtakes fossil fuels, despite Brexit fears

  • Press Statements
    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

    GE's digital power transformers selected for multiple projects across the globe

    GE’s digital power transformers selected for multiple projects across the globe

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Home Market Reports

ACCIONA net profit increases 17.4% to €49 million in first quarter

in Market Reports, Renewable Power

Consolidated revenues decreased 7.2% to €1,418 million

Consolidation of ATLL partially compensates for lower electricity prices in Spain
Net ordinary capital expenditure amounted to €299 million, and represented a large part of investment outlays for full year

ACCIONA posted a net profit of €49 million in the first quarter of 2016, 17.4% higher than in the same period of 2015. The result was aided by the consolidation of ATLL following the acquisition of an additional 37% of the concession consortium, which partially offset the strong decline of electricity prices in Spain.

Consolidated revenues fell 7.2% to €1,418 million as a result of lower revenues in the Energy and Infrastructure businesses. A significant drop in electricity prices, which were 33% lower in the first quarter of 2016 than a year ago, led to a 10.6% fall in revenues in the Energy division. Revenues in the Infrastructure division were 5.9% lower as a result of the sharp decline of Construction activity in Spain.

 

EBITDA was stable (-1%) at €277 million thanks to better margins in the Construction business and higher contributions from the Concessions and Water businesses, which helped offset the impact of lower electricity prices in Spain. The Energy business continues to make the highest contribution to Group EBITDA, at 77% of the total. EBIT reached €170 million, 14.3% higher than the first quarter of 2015.

 

Net financial debt increased slightly, from €5,159 million on the 31st December 2015 to €5,396 million at the end of March 2016. The increase was due to the fact that the first quarter concentrated most of the investments planned for the entire year, including one-off investments such as the acquisition of two new vessels by Trasmediterránea and the acquisition of a 37% stake in ATLL from BTG Pactual. As a result, net capital expenditure totalled €299 million in the first quarter of the year, compared to €55 million in the same period of last year.

 

RESULTS BY DIVISION
ACCIONA Energy revenues fell 10.6% to €573 million. EBITDA decreased 11.7% to €213 million. The results reflected the low electricity prices in Spain, which averaged €30.7/MWh in the first quarter and led to a 9.2% drop in revenues and a 14.5% drop in EBITDA from generation activities in Spain. As a result, Earnings before Tax at the division fell more than 40%, from €65 million to €38 million.

 

At an operational level, consolidated production increased to 5,038GWh, 1.5% higher than in Q1 2015 due to the higher wind load factor in Spain and, to a lesser extent, a higher hydro load factor which compensated the lower solar resource as well as a lower international wind production.

 

During the last twelve months, consolidated installed capacity increased by 53MW (30MW wind in Poland, 4MW wind in Spain and 19MW solar PV in Chile)

ACCIONA Infrastructure – which includes the Construction, Water and Services – posted revenues of €738 million in the first quarter, a fall of 5.9%, mainly as a result of a 20.3% drop in Construction revenues to €427 million, a figure that reflects the sharp drop of activity in Spain. Construction EBITDA rose 4.2% to €23 million.

 

Revenues from the Water business increased 83.8% to €163 million, while EBITDA rose from €3 million to €28 million. Excluding the consolidation of ATLL, revenues increased by 41.6%, while EBITDA almost trebled thanks to an increase in the international design and construction of water treatment plants. As of 31st of March 2016, the water backlog totalled €10,752 million, a 12.3% increase over the past 12 months.

Services – which groups a range of businesses including airport handling, facility services, logistics services and solid waste management – were stable with revenues of €158 million (-4%) and EBITDA of €3 million (+3.2%).

 

Other activities – which includes Trasmediterranea, Real Estate, Bestinver and Wineries – posted stable revenues of €128 million (+0.8%). EBITDA increased 7.2% to €12 million led by Trasmediterranea, where EBITDA improved by €5 million (from negative €3 million to a positive €2 million) thanks to an increase in revenues, improved operational efficiency and lower fuel and staff costs.

Bestinver had €5,012 million of funds under management as of 31st March 2016 and posted an EBITDA of €14 million, in line with results of the first quarter in 2015.

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