Greece: Profit increase at Terna Energy in 2020

, SEE Energy News

Greek renewable energy producer Terna Energy aims to have 3 GW of capacity in operation within the next five years. The company recorded a net profit in the amount of 71.8 million euros in 2020, which is 39.3 % more compared to the previous year. The company’s revenues in 2020 reached 328.1 million euros, which is a 9.7 % increase year-on-year despite the disruption caused by the pandemic. Electricity sales amounted to 273.4 million euros, which is a 15.2 % increase compared to 2019. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached 194.7 million euros in 2020, a 7 % increase. Terna Energy’s total installed capacity surpassed 1,800 MW at the end of 2020, including capacity in operation, under construction or with shovel-ready status. The company has 728 MW of operational power plants in Greece, 513 MW in the US and 132 MW in southeastern Europe. An additional 430 MW of capacity is under construction or shovel-ready in Greece and abroad.