- French renewable energy giant, Neoen , has announced plans to more than double its capacity to at least 10 gigawatts in operation or under construction by the end of 2025.
- It currently has 4.1 GW of capacity in operation or under construction.
The company expects it will need to invest some 5.3 billion euros ($6.32 billion) over 2021 to 2025 to support the capacity expansion, and plans to raise a maximum of 1.2 billion euros through a capital increase, the company said in a statement.
Neoen posted earnings before interest, taxes, depreciation and amortization (EBITDA) of 270.4 million euros for 2020, up 25% and in line with its guidance.
Check out their full year results HERE.
Author: Bryan Groenendaal