Gransolar reinforces its presence in Australia. The company, through its subsidiary GRS, has become one of the leaders in the EPC segment in the country after the contracts signed this year with Lightsource bp.
Together with the companies of the ISE and PV Hardware (PVH) group, GRS will assume the design, construction, commissioning and subsequent operation and maintenance tasks of the Wellington North photovoltaic plants, which will become one of the largest in Australia with an installed capacity of 425 MW, and Wunghnu, with 90 MW.
Wellington North Solar Farm will be located near Dubbo, in the state of New South Wales. Its 755,552 photovoltaic modules distributed over an area of 847 hectares will produce energy equivalent to the consumption of more than 152,500 homes.
The Wunghnu plant, for its part, will be located in Goulburn Valley (Victoria) and will consist of 160,048 modules on 222 hectares, enough to produce energy for 27,152 homes.
Gransolar thus becomes the leading company in photovoltaic EPC projects (engineering, procurement and construction), with a portfolio of more than 1.5 GWdc in a total of 12 projects, of which ten exceed 20 MW of installed power, according to figures published by the consulting firm Rystad Energy. Lightsource bp, meanwhile, is the largest owner of photovoltaic assets in Australia, with a total of 841 MW.
The Gransolar Group, through its storage subsidiary E22, also agreed last week to sell a pipeline of storage facilities in Australia totaling 440 MWh (220 MW of capacity) to the investment fund Aquila Capital.
Results 2021
The group thus maintains a growth path that was reflected in the company’s results for 2021. Gransolar has achieved revenues of 537 million euros, 58% more than in the previous year. Net profits have been 22.7 million (50% more than in 2020) and it has achieved an EBITDA of 50.4 million euros, which is 67.4% more. The greatest growth by line of business has been that of PV Hardware, which contributes more than 60% of the group’s EBITDA. For the third consecutive year, the company remains the third largest manufacturer of trackers and structures in the world, according to data from Wood Mackenzie.
PVH is the leader in the Middle East, with a market share of 35%, in Europe (38%) and in Spain (39%).
The company has notably increased its workforce to more than 1,075 people compared to 524 employees in 2019.
The company has also made a change in its organization chart after entering the capital of the Trilantic fund at the end of 2021.
Domingo Vegas will continue as president of the company and Iván Higueras becomes its CEO, compared to his previous position as CEO of the company.
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