June 27 (Renewables Now) - Spanish renewable energy company Rios Renovables Group expects to pull in EUR 45 million (USD 51.6m) in 2019 revenues, more than doubling last year’s result, and remain at that level for the next five years.
The Navarre-based firm, which celebrates 30 years in business this year, is focused mostly on the development of solar photovoltaic (PV) projects, energy efficiency upgrades and electrical infrastructure. Regulatory changes and Europe’s push for 100% share of renewables has opened the PV market to new opportunities, Rios Renovables general manager Felipe Enrique said last week.
Rios Renovables holds operations and maintenance (O&M) contracts for 140 MW of PV farms in Spain and Italy. The company is currently building two solar projects totalling 27 MW in Spanish municipalities of Alfaro and Geria. Both farms will be online after the summer of 2019. In addition, Rios Renovables has a portfolio of orders to build 250 MW in Spain over the next five years.
In the self-consumption segment, the company has close to 1 MW of rooftop PV installations with orders to put up a further 2 MW in the next nine months.
(EUR 1.0 = USD 1.14)