Mytilineos solar and also storage space financial investments at 'full speed' after EPC growth

Jan 28, 2022 06:12 PM ET
  • Greek commercial team Mytilineos said its renewables and also storage space device continues with "full speed" to invest in solar and battery power storage space systems around the world complying with a 2021 that saw the business increase its PV design, purchase and also building (EPC) procedures.
Mytilineos solar and also storage space financial investments at 'full speed' after EPC growth
Image: Mytilineos

Construct, operate as well as move (BOT) solar projects were significant factors to the unit's economic efficiency last year, with the sale of an 89MW portfolio in Romania as well as 100MW in Spain bringing in EUR163 million (US$ 182 million).

Mytilineos saw its renewables organization increase its turnover 39% year-on-year in 2021 to EUR365 million, while EBITDA leapt 40% to EUR21 million.

The positive outcomes were taped regardless of the unit experiencing component procurement concerns. Nikos Papapetrou, basic manager of the renewables and storage advancement organization, informed that there was an absence of component availability "for a major part" of the year.

The system is currently establishing BOT renewables projects with a mature aggregate capacity of around 1.8 GW in a host of European markets in addition to Chile, South Korea as well as Australia.

In Q4, business secured a 53MW solar project in an Italian renewables auction and also reached economic close on a 120MWp portfolio of PV plants in Australia.

In regards to renewables building and construction work, Mytilineos signed new third-party EPC bargains for 878MW of solar and also energy storage projects last year, situated countries consisting of Uzbekistan, with its signed EPC backlog presently standing at EUR260 million.

Mytilineos also has companies in the metallurgy, power as well as gas, as well as lasting engineering remedies sectors. The renewables system's turnover represented 13.7% of the team's total.

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