The economic journal Expansiónreports the statements of the president of Gransolar Group, Domingo Vegas, who sees a very promising future for the company. The incorporation of Trilantic Europe as a majority shareholder will give a significant boost to the potential of Gransolar, which expects to increase profits this year by 50% compared to last, and to reach 1 billion euros in revenues by 2023.

Gransolar closed 2021 with a marked growth in all its figures, with an increase of 58% compared to 2020 and reaching 537 million euros in total revenue. Gross operating profit (ebitda) stood at 50.4 million euros and represents a 67.4% increase compared to 2020. Despite the global health crisis caused by Covid, the group has managed to maintain its financial strength, posting a net profit of EUR 22.7 million, with a yearly increase of 50%.

Growth strategy

Gransolar is currently one of the leading renewable energy groups in Spain and has consolidated its international presence in all phases of the development of photovoltaic energy projects. According to its president, it is planning a strategy of global growth and consolidation in the markets where it is already presentfor the near future. One of the main objectives is to consolidate its position as a builder in the United States, Australia and the United Kingdom, while at the same time making a firm commitment to energy storage in Australia, the United Kingdom and continental Europe. It currently counts on an estimated pipeline of around 2 billion euros as a basis for achieving its objectives.

Domingo Vegas, one of the founders of the Gransolar Group and current president, told the business daily that “we are optimistic about the future, establishing sales in countries with a long way to go and making a clear commitment to storage as a spearhead”, while applying a strategy of “territorial risk diversification”.

You can read the full article in Expansión by clicking here.