Enel Green Power has reported a 67% rise in earnings before interest, tax, depreciation and amortisation (EBITDA) for the first half of 2023, compared with the same period in 2022.
In H1 2023, EBITDA for the renewables business of the Italian energy company rose to €2bn, from €1.19bn in H1 2022.
Ordinary EBITDA, at Enel Green Power, rose to €2.1bn in the first half of this year, from €1.3bn.
Enel Green Power’s revenues increased in H1 2023, compared with the same period of 2022 mostly due to the increase in quantities produced in Italy, Spain and Latin America, mainly from hydro and solar, the company stated.
Across Enel Group in H1 2023, renewable generation capacity stood at 54.2GW, as part of 82.2GW of total generation capacity, rising 1.1% from 53.6GW in H1 2022.
The net electricity generated by Enel Group in the first half of 2023 totalled 102TWh, a decrease of 13.5TWh compared to the value recorded in the same period of 2022 (-11.7%, around +1% on a like-for-like basis).
More specifically, this reflects an increase in generation from renewable sources by 5.7TWh on the same period of the previous year, mainly due to an increase of 3.7TWh from hydropower, an increase of 500MW from wind and an increase of 1.6TWh from solar.
Renewable energy sources now account for 59% of the generation mix of Enel Group plants.