French renewables company Voltalia’s Q2 revenues were up 26% year-on-year to €111 million (US$113 million) as its project development, construction and equipment procurement segment continued to grow.
The firm’s services unit increased revenues by 36% to €94.3 million as development revenues were up thanks to the sale of projects to third-party clients, while the construction segment posted strong growth in the UK, Portugal and Kenya.
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“Voltalia continued to grow at a rapid pace in the second quarter with strong sales of services to third-party customers,” said the company’s CEO, Sébastien Clerc.
Revenues from the operations and maintenance unit were flat year-on-year.
As well as its role as a renewables project service provider – spanning development, EPC and O&M services – Voltalia is an asset owner and independent power producer.
Q2 2022 revenues from energy sales jumped 8% on the same quarter last year, while production fell to 0.6TWh, compared to 0.8TWh in Q2 2021.
The company ended the quarter with 2.1GW of renewables in operation and under construction, with more than 900MW under construction.
The largest PV plants the firm is building are the SSM installations in Brazil, which have a total combined capacity of 507MW, followed by the 140MW Karavasta project in Albania, which is due to be commissioned in the second half of 2023.
During Q2 Voltalia was awarded 117MW of solar capacity in a tender in Morocco as well as a 33MW floating PV plant in a Portuguese auction in April that represents the company’s first floating solar project.
The firm announced last month that it has started developing a cluster of PV projects in the Brazilian state of Minas Gerais that will have a combined capacity of 1.5GW.
At the end of March Voltalia’s Helexia subsidiary acquired French company Cap Sud, which specialises in the development and operation of solar systems on the roofs of agricultural buildings.
Voltalia has confirmed a prior ambition to have 2.6GW of renewables in operation or under construction by the end of 2023.