Global renewable energy company Voltalia has announced substantial revenue growth for the first half of 2017.
Total revenues over the half-year increased by +73.8% compared to the first half of 2016, totalling €77.7mn ($89.84mn). At constant exchange rates, consolidated revenues were up by +55.2% compared to the first half of the previous year.
Q2 2017 consolidated revenues amount to €39.6mn ($45.79mn), compared with €26.2mn ($30.29mn) in Q2 2016, a +51.4% increase in the activity over the period. At constant exchange rates, consolidated revenues were up by +34.9% compared to Q2 2016.
Energy sales grew by +20.6% compared to Q2 2016, mainly due to the revenues generated by the Vila Pará power plant (99 MW) gradually commissioned during Q3 2016 and by the progressive commissioning of the turbines at the Vila Acre plant (27 MW) in Q2 2017;
Over the period, Voltalia also recorded increased revenues from services activities.
The operation and maintenance business enjoyed revenues from previously existing contracts, mainly in Italy and Portugal, as well as revenues from more recent contracts in Jordan and Japan. The Jordanian contract (57 MW) covers the power plant completed by Voltalia at the beginning of the year.
The Japanese contracts (50.7 MW) were signed in Q1 2017 thanks to the synergies resulting from Voltalia’s and Martifer Solar’s joint teams mobilisation right after the acquisition.
During the quarter, the development, construction and procurement activity notably benefited from revenues generated by the 5 MW construction contract for a solar power plant in Tanzania and construction and procurement contracts executed in Brazil and in Italy.
“I am pleased with this second quarter’s good performance, achieved thanks to the two pillars of our growth model,” said Sébastien Clerc, Chief Executive Officer of Voltalia.
“On the one hand, we benefited from revenues from the early commissioning of our new production capacities at the Vila Pará wind power plant (Brazil). On the other hand, the service activities enable us to record new revenues over the semester.”