Voltalia revenue grows +74% first half of 2017
Multi-source electricity producer Voltalia, an international player in renewable energies, has announced its Q2 and H1 revenues for 2017.
Voltalia states that following the acquisition of Martifer Solar in Q3 2016, the latter was consolidated within the consolidated accounts from 1 August 2016.
"I am pleased with this second quarter's good performance, achieved thanks to the two pillars of our growth model. 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", says Sébastien Clerc, Chief Executive Officer of Voltalia.
Q2 2017 consolidated revenues amount to €39.6 million, compared with €26.2 million 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 mobilization 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.
Total revenues over the half-year increased by +73.8% compared to the first half of 2016, totalling €77.7 million. At constant exchange rates, consolidated revenues were up by +55.2% compared to the first half of the previous year.
Recent developments
French Guiana: new biomass power plant project (5.1 MW)
On 21 April, Voltalia announced it has obtained a tariff for a 5.1 MW biomass power plant in French Guiana. Located near the village of Cacao in the municipality of Roura, the power plant will generate electricity by burning wood from logging operations or from sawmills and will benefit from a private contract with a guaranteed price over a 25 year-period. The plant could be commissioned at the end of 2019.
Brazil: connection to the grid of the São Miguel do Gostoso wind farms (108 MW) and early commissioning of the Vila Acre wind power plant (27 MW)
The São Miguel do Gostoso power plant ("SMG", 108 MW) has benefited from compensation revenues since June 2015, due to delay of the company in charge of reinforcing the regional electricity grid. This reinforcement has been completed and the wind farms of the São Miguel do Gostoso are now injecting electricity into the national grid and will therefore no longer be considered in preservation period as from July 2017.
After winning the electricity sales contract during the November 2015 auctions, Voltalia launched the construction works for the Vila Acre power plant (27 MW) in Q4 2016, which was due to be completed during the third quarter of 2017. The power plant was actually commissioned in June 2017. As the 20-year long-term sales contract is only due to start in November 2018, this anticipation will enable the Group to generate revenues more than a year ahead of schedule, in accordance with the terms of the contract.
Metropolitan France: launch of the construction of two new solar power plants
Won during the CRE III tender in December 2015, these power plants are located in the sunniest region of France. The Canadel power plant will be located in Brignoles and the second plant, Castellet II, will be right next to the first solar plant of the same name and commissioned by Voltalia in July 2013 following the 2012 CRE I tender.
