Solarpack continues along growth path in first half of 2020
By ad_solarpack
The Getxo-based solar photovoltaic (PV) multinational Solarpack has posted solid results for the first half of 2020, reflecting an intensive level of construction activity for third parties and the contribution of the new capacity commissioned during 2019 and at the start of 2020 in Spain, Chile and India to the Power Generation (POWGEN) unit.
- Completes first half of 2020 with operating income of €78.8 million, 191% higher than the first half of 2019, plus an EBITDA of €31.9 million (226% above H1 2019) and a net profit of €4.8 million, compared to €0.6 million in the first half of last year
-Increases backlog of contracted projects to 513 MW, after being awarded the Gorbea project in India at the end of last June
- Closes refinancing of senior Spanish projects, creating value through longer tenors and lower financing costs and freeing up €26 million in free cashflow to continue supporting the profitable growth of the company
- Completes construction of 150 MW in Spain and begins work on another 10 MW in Chile
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