(AOF) – Voltalia has launched the construction of three new solar parks in the south of France with a total capacity of 25.1 megawatts. The first project concerns the construction of a photovoltaic park, with a total power of 10.7 megawatts. This project is located on an agricultural wasteland with an area of 15 hectares. “The choice of a specific technology of structures supporting solar panels with trackers and the implementation of a suitable irrigation system allow the return of agricultural activities,” specifies the renewable energy specialist.
The other two projects with respective capacities of 8.2 megawatts and 6.2 megawatts are solar parks with fixed structures.
In total, the production of the three projects represents the annual electricity consumption of more than 18,000 inhabitants and will avoid the emission of 7,500 tonnes of CO2 per year.
“With a capacity of 461 megawatts in operation and under construction, Voltalia is a major player in renewable energies in mainland France and Guyana. In addition, Voltalia ensures the development of a pipeline of more than two gigawatts of future projects in the country “, declared Sébastien Clerc, general manager of Voltalia.
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Key Points
– Independent energy producer and service provider across the entire renewables value chain, created in 2005;
– Turnover of €469 million, divided between energy sales (wind, solar, hydro, biomass and storage) for 52% and services;
– Capacity of 2.6 GW in operation and construction and 4.4 GW of assets under management, for the group or on behalf of third parties, with an installed capacity of 44% in solar, 51% in wind and 5% in biomass , 69% in Latin America and 25% in Europe;
– Integrated business model for a complete value chain (development of renewable projects, engineering and construction, operation and maintenance), duplicated in 2 businesses – renewable energy producer and service provider and capital efficient through use of “Corporate PPA”, electricity contracts linking the company to the electricity producer;
– Capital controlled 71.3% by the Mulliez family, Laurence Mulliez chairing the board of 7 directors and Sébastien Clerc being general manager;
– Balance sheet under control after the capital increase of November 2022, with €1.34 million in equity and €384 million in cash compared to a financial debt of €1.31 billion.
Challenges
– 2027 strategy for growth above the market:
– diversification: more ground and roof solar, services, storage and strong expansion outside Brazil,
– limitation of capital expenditure by growth of service activities and by use of “Corporate PPAs”, electricity contracts linking the company to the electricity producer,
– selectivity of projects, carried out independently or with strategic partners;
– owned capacity of + 5 GW operated and under construction and capacity operated on behalf of third parties greater than 8 GW
– gross operating profit of around €475 million;
– Innovation strategy serving the environmental strategy:
– reduction of environmental impact: after 564 kt of COe avoided in 2022, objective of + 4 Mt of CO2 avoided in 2027,
– preservation of biodiversity by impact study before construction,
– borrowings aligned with ISG criteria;
– Rapid ramp-up of Helexia, specialist in energy efficiency and optimization programs on sites -148 MW installed, 449 MW in portfolio
– After 1,128 MW of new contracts won in 2022, 2.7 GW in operation and nearly 1 GW under construction at the end of June;
– Visibility of the activity with sales contracts with an average duration of 16.5 years, 78% of future revenues being indexed to inflation.
Challenges
– Sensitivity of the business to the weather (winds and sunshine), resulting in increased losses in 2022, also affected by power plant sales;
– After the sale, associated with a development contract, of a solar power plant to the Brazilian Newave Energia, awaiting other sales accompanied by service contracts, reflecting the strategic option of positioning as a developer;
– Continued winning of “Corporate PPA” contracts.
