Neoen has reported a 1% increase in profitability for 2024, driven by the award of 1,900 MW of new projects during the year. The French renewables developer achieved an adjusted EBITDA of €479.4 million, based on total revenues of €533.1 million.
The company’s secured portfolio reached 10.8 GW by the end of 2024, underscoring its expanding presence in the renewable energy sector. Neoen also anticipates a significant rise in adjusted EBITDA for 2025, forecasting a figure of over €700 million, with 10 GW in total capacity either in operation or under construction by the end of the year.
Xavier Barbaro, Chairman and CEO of Neoen, said: “Neoen’s 2024 adjusted EBITDA was in line with our expectations. The basis of comparison set by the high level of early generation revenue recorded in the previous year has mechanically declined over the quarters, while we posted a strong increase in storage revenue in the second half.”
Barbaro also highlighted the company’s achievements in 2024, noting: “We are proud to have won 1.9 GW in new projects over the course of the year and to have brought 0.9 GW in capacity into operation, including two large storage batteries in Australia, three wind farms in the Nordics, and solar farms in Canada and France.”
Looking ahead, Barbaro emphasized Neoen’s continued commitment to accelerating the energy transition, stating, “As our shareholding structure evolves, Neoen is determined to keep pursuing its value-creation strategy. Thanks to the expertise of our teams, the quality and size of our pipeline, and our robust financial position, we will resolutely continue to accelerate the energy transition in the countries in which we operate.”
The company’s ongoing projects and financial stability position it for further growth as it expands its renewable energy footprint globally.
