French renewable energy developer Voltalia has expanded its clean energy portfolio by 15% in the second quarter of 2024, driving a 42% growth in turnover compared to the previous quarter.
The company now boasts 2.5GW of solar and wind capacity in operation, up 44% from the 1.7GW in operation in the first half of 2023, and has a further 610MW of capacity under construction. Its electricity production has also increased, to 1,111GWh in the second quarter of this year, a 26% growth over production in the second quarter of 2023. This translates to a 13% increase in electricity generation between the first half of 2023, and the first half of 2024, for which the company now has figures.
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The developer aims to expand its under-construction and operational portfolio to 3.3GW by the end of the year, and 5GW by the end of 2027, and the company reaffirmed these ambitions in its latest financial results, published this week.
“The second quarter of 2024 consolidates and accelerates the trajectory initiated at the beginning of the year, driven by the sustained growth in both our energy sales and services to third-party customers,” said Sébastien Clerc, CEO of Voltalia, of the latest results.
Voltalia’s energy sales increased considerably year-on-year, from €71.8 million (US$77.9 million) in the second quarter of 2023 to €93.8 million in the second quarter of 2024, an increase of 31%. Looking at half-year figures, the company’s sales grew from €134.2 million in the first half of 2023 to €168.7 million in the first half of this year, an increase of 26%.
The company noted that much of its growth came from regions in which it had commissioned new projects recently, such as Albania, where Voltalia brought online a 140MW project. While its power generation fell by 2% in Brazil, due to the sale of projects and maintenance operations cutting into the production capacity of facilities, its output increased by 6% in France, quarter-on-quarter, and more than doubled in the rest of the world.
The news follows strong financial results in 2023, which saw the company “reach or even exceed” a number of its end-of-year targets. More recently, Voltalia has announced plans to build a solar-plus-storage plant in Uzbekistan, and more than 2.5GW of renewable electricity production to support green hydrogen development in Egypt, as it looks to expand its clean energy portfolio further.
