Greek renewable energy producer Terna Energy reported an adjusted net profit of EUR 29.9 million in the first half of 2024, marking a 46.3% year-on-year increase.
This rise was driven by the expansion of its renewable energy portfolio, which benefited from favorable weather conditions, resulting in higher electricity generation compared to the same period in 2023.
The company saw a 42.5% increase in revenues, which reached EUR 152.1 million. Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) also improved, rising by 35% to EUR 96.9 million.
Terna Energy's total installed capacity reached 1,224 MW by the end of June 2024, up from 1,096 MW a year earlier. The company is currently constructing 63 MW of solar parks in Greece and preparing for the development of 550 MW of wind, solar, and energy storage projects, both domestically and internationally, scheduled for completion by 2025.
Additionally, construction is progressing on a 680-MW pumped storage hydropower project in Amfilochia, Greece.
