Swiss solar power provider Edisun Power saw its electricity production increase by 7% to 19.1 million kWh last year. The company’s turnover grew 8% year-on-year to 8.23 million CHF ($8.16 million), while net profit rose 34% to 0.96 million CHF.
Edisun said that last year’s growth in revenue was mainly due to the acquisitions of the Digrun solar power plant in Mallorca, Spain, and the Sainte Maxime PV facility in southern France in 2015. The company stressed that its 2.3 MW facility Renovables del Condado in Spain, whose acquisition was finalized in late 2016, has not yet contributed to growth.
Edisun also said Ebidta improved by 12% to 5.87 million CHF ($5.82 million), while depreciation and amortization increased as a result of the new facilities by 14% to 3.01 million CHF.
The company added it expects further growth this year from a 12 MW PV project it acquired in Spain from Swiss investment firm Smartenergy Invest AG in February. The Requena solar project, which is located in Valencia and is expected to come online by mid-2017, should increase the company’s revenue for 2017 by approximately 20%, Edisun said. The project is being developed under Spain’s renewable energy program and is entitled to receive a 30-year FIT.
Edisun Power currently owns and operates 34 solar energy installations in Switzerland, Germany, Spain and France, with a total capacity of 18 MW. The company has been listed on the Swiss Stock Exchange since September 2008.