Neoen has reported a 1% rise in profitability in 2024, with 1900MW of new projects awarded over the course of the year.
Adjusted EBITDA totalled €479.4m for the year, based upon revenues of €533.1m.
Neoen’s secured portfolio stood at 10.8GW at the end of 2024.
The renewables developer anticipates an adjusted EBITDA of over €700m in 2025 and 10GW in total capacity in operation or under construction in the course of the year.
Xavier Barbaro, chairman and chief executive of Neoen, said: “Neoen’s 2024 adjusted EBITDA was in line with our expectations.
“The basis of comparison set by the high level of early generation revenue recorded in the previous year has mechanically declined over the quarters, while we posted a strong increase in storage revenue in the second half.
“We are proud to have won 1.9GW in new projects over the course of the year and to have brought 0.9GW in capacity into operation, including two large storage batteries in Australia, three wind farms in the Nordics and solar farms in Canada and France.
“As our shareholding structure evolves, Neoen is determined to keep pursuing its value-creation strategy.
“Thanks to the expertise of our teams, the quality and size of our pipeline and our robust financial position, we will resolutely continue to accelerate the energy transition in the countries in which we operate.”