Renewables independent power producer (IPP) Alternus Energy has recorded €6m in earnings before interest, tax depreciation and amortisation (EBITDA) in the second quarter of 2022 compared with €2m in the same period in 2021.
Compared to the same period last year, run-rate annual revenues have grown to approximately €30m with 168MW of operating solar parks in five European countries and a backlog of more than 748MW of solar parks owned and in development.
A further 412MW of solar projects are now under binding purchase contracts.
In the second quarter of 2022 Alternus’s power production increased to 71 gigawatt hours (GWh) from 23GWh in the same quarter in 2021.
Booked revenues increased to €10.6m from €5.2m.
Gross margins for the period were 79% of booked revenues
Vincent Browne, Chairman and Group CEO, said: “The financial results for this quarter are in line with expectations and demonstrate our continued operational execution with strong year-on-year growth in all key metrics, including exceeding budgeted production numbers from our operating parks in the first half of this year.
“We continue to strengthen our team in key areas to support the exploitation of opportunities in leading growth markets.”