Greek renewable energy producer Terna Energy reported an adjusted net profit of €29.9 million for the first half of 2024, marking a 46.3% increase year-on-year. This growth can be attributed to the company’s expanded renewable energy portfolio, which generated significantly more electricity compared to the same period last year, aided by favorable weather conditions.
As a result, revenues surged by 42.5%, reaching €152.1 million. The company’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) rose to €96.9 million, a 35% increase from the previous year.
By the end of June 2024, Terna Energy’s total installed capacity reached 1,224 MW, up from 1,096 MW in June 2023. The company is currently constructing 63 MW of solar power plants in Greece and is gearing up for the development of an additional 550 MW of wind, solar, and energy storage facilities, both domestically and internationally, with plans for commissioning by the end of 2025.
Additionally, Terna Energy is working on a 680 MW pump-storage hydropower plant in Amfilochia, Greece, further expanding its renewable energy initiatives.
