Etrion sees higher-than-expected revenue, earnings in 2018
Aomori solar park in Japan. Source: Etrion (www.etrion.com).
Thanks to the strong performance of its Japanese assets, independent solar power producer Etrion SA (TSE:ETX) could end 2019 with better-than-expected earnings and revenues, the company said today.
The Japan-focused firm projects that its full-year results will be at the high end of its earlier guidance, or even exceed it. Etrion in March guided for 2018 project-level earnings before interest, tax, depreciation and amortisation (EBITDA) of between USD 8.7 million (EUR 7.7m) and USD 9.6 million on revenues of USD 12.9 million-14.3 million. Power generation was seen to range between 37.5 GWh and 41.5 GW.
The improvement on the Japanese markets reflects the grid-connection of the 13.2-MW Komatsu photovoltaic (PV) park in Ishikawa prefecture and the increased output of Etrion’s solar parks due to the higher irradiation levels. A drop in operating costs also contributed to the company’s enhanced performance as of end-November, CEO Marco A Northland, explained.
Last week, Etrion said it sees the newly introduced solar project deadlines in Japan as an opportunity to come to the rescue of affected projects, and not as a threat to its own pipeline. The new rules envisage a reduction of secured feed-in tariffs (FiTs) for projects contracted in 2012, 2013 and 2014 but not making progress.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.