"Our objective remains clear and inalienable: to reach 1,000 MW of assets in operation and under construction by 2025, with income guaranteed through long-term contracts for 80% of them," added Luis De Valdivia, president of the company.

The multinational renewable energy group Ecoener will begin the construction of a 50 megawatt (MW) photovoltaic plant in Panama in September, after its "great leap in international dimension" experienced in 2023.

This was stated this Thursday by the president of the company, Luis de Valdivia, within the framework of the general meeting of shareholders held in A Coruña, where the accounts for the last year, already released in February, were ratified.

The firm obtained a net profit of US$ 12.8 million, 40% less than in 2022 due to the legislative modification of the Spanish electricity market. Excluding its effect, it would have achieved profits of US$31.6 million, more than a year before. Ecoener's income remained at US$68.7 million, 12% less.

Despite everything, De Valdivia has claimed that 2023 "was characterized by three fundamental variables: a significant investment effort, the launch of new and important assets and the signing of long-term supply contracts."

In this regard, he said that the company invested US$ 133 million last year, 4.2% more than in 2022, and put 140 new MW into production, closing the year at 740 MW in assets in service and under construction. The forecast is to reach 1,000 MW in 2025. "Thanks to the investment effort, the total generation of the Ecoener group reached 500 gigawatt hours (GWh) last year, 31% more than in the previous year," the company stressed in a statement.

For all these reasons, the president of Ecoener has highlighted that the company "grows rapidly in size, diversifies geographically and continues to advance in profitability and sustainability." In fact, "40% of the income already comes from America and the company is currently undertaking the construction of 400 new MW of which, at least 200, will be in service before the end of 2024," he stated.

PRESENCE IN IBERO AMERICA

With Panama, the renewables company thus adds a new country to its presence in Latin America, where it already has operations in the Dominican Republic, Honduras, Guatemala and Colombia.

Precisely the two photovoltaic plants Cumayasa 1 and 2, of 96 MW in the Dominican Republic, and the Sunnorte, of 41 MW in Colombia, led the growth in 2023. Between 2020 and 2023, the company has multiplied its size by 2.7 times, by going from 271 MW in operation and construction to 740 MW, located in America and the Canary Islands.

"Our objective remains clear and inalienable: to reach 1,000 MW of assets in operation and under construction by 2025, with income guaranteed through long-term contracts for 80% of them," added De Valdivia.

He has also spoken of the reinforcement carried out in Europe, with plans to grow simultaneously in Greece, Italy, Romania and Poland. In the Hellenic country it has already begun to develop 350 MW, for which it already has a first license.