Intl markets prop up Acciona's 9-mo renewables EBITDA

Punta Palmeras wind farm (45 MW). Source: Acciona (www.acciona.com)

November 8 (Renewables Now) - The energy division of Spain's Acciona SA (BME:ANA) delivered EUR 567 million (USD 625.5m) in earnings before interest, taxes, depreciation and amortisation (EBITDA), up 6.7% year-on-year, during the first nine months of 2019, largely thanks to operations in foreign markets.

The international power generation business grew EBITDA by 10.2% to EUR 307 million on contributions from new assets and, to a lesser extent, favourable exchange rates, the renewable energy company said in its nine-month earnings release.

The power generation business EBITDA in the home country declined by 8.5% to EUR 283 million as a result of lower output, mainly hydro, and last year’s divestment of concentrated solar power (CSP) assets.

The total consolidated power production decreased by 3.6% to 13,276 GWh, dragged down by a 988-GWh drop in hydro output in Spain.

Total revenues were down 5.6% to EUR 1.5 billion. Of all sources of revenue, only international generation business managed to pull in growth -- EUR 493 million, up 16.1% year-on-year. Revenues in Spain dropped by 7% to EUR 571 million.

Between January and September 2019, Acciona increased the consolidated installed capacity by 6.8% to 8,007 MW. The new capacity is divided between 348 MW of wind farms in Spain, Chile and the US, and 161 MW of solar photovoltaic (PV) parks in Ukraine and Chile.

(EUR 1.0 = USD 1.103)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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