Greek Terna posts lower 2023 profit as costs weigh

Terna Energy, a Greek renewable power producer, experienced a 7.9% decrease in adjusted net profit in 2023, totaling EUR 64.6 million, despite increased sales from renewable energy sources. This decline was primarily due to higher depreciation and net interest costs associated with new investments. The company reported a significant increase in revenue to EUR 327.8 million, a 10% growth from the previous year, fueled by larger installed capacity and enhanced sales in renewable energy, particularly from solar photovoltaic projects. Terna Energy plans to expand by adding over 600 MW of new plants, focusing on solar PV and developing 3.5 GW of hydropower, storage, and hybrid projects.

Source:

https://renewablesnow.com/news/greek-terna-posts-lower-2023-profit-as-costs-weigh-856882/

Want to read more?

Subscribe to vitaliydaviy.wixsite.com to keep reading this exclusive post.

Subscribe Now