Better Energy has reported Dkr726m (€97m) in earnings before interest, tax, depreciation and amortisation (EBITDA) in 2023, up from Dkr410m in 2022.
The Danish developer reported profit before tax for the year of Dkr179m delivering on the lower end of its guidance for 2023, predicting revenue of Dkr2.5-3bn and profit before tax of Dkr150-250m.
In 2024, Better Energy anticipates an increase in activity level with an expected revenue range of Dkr4-4.6bn and an EBITDA in the range of Dkr850m to Dkr1bn.
In 2023 Better Energy more than doubled production from its solar parks and it was also a strong year for power sales as the company signed 12 PPAs with eight companies.
Throughout the year, Better Energy grid-connected five solar parks, increasing its operational portfolio of solar parks to 1126MW.
The company has identified more opportunities for renewable energy parks in all of its markets, targeting a capacity of more than 16,200MW.
Around 1700MW of this is already included in Better Energy’s construction portfolio and over 14,500MW in its development portfolio.
Rasmus Lildholdt Kjaer, Chief Executive Officer of Better Energy, said: “Our purpose-driven and sound business model is fundamental to our success.
“Through it, we can create strong partnerships with municipalities, grid operators, energy offtakers and investors who – all in their very own way – contribute directly to accelerating the green energy transition.
“In 2023, we grew our team by 191 people and almost doubled our organisation.
“They have become part of our excellent group of professionals, working across our entire value chain.
“Each employee brings their unique talents while working together as a team.
“That, above all else, puts us in a great position for success in the coming years.”