Neoen's sales for the first quarter of 2024 were down 8% at 141.4 million euros, including a 6% drop at constant exchange rates, while its electricity production rose by 11% to 2.2 TWh.

'This performance is linked to the mechanical effect of the entry into force, from April 2023, of the PPAs of several power plants that benefited from significant early generation revenues in the first quarter of 2023', explains the renewable energies group.

With a portfolio secured at nearly 9.1 GW at the end of March, including eight GW in operation or under construction, Neoen confirms its 2024 adjusted EBITDA target of between 530 and 560 million euros, with a margin rate in excess of 85%, as well as its ambitions for 2025.

Copyright (c) 2024 CercleFinance.com. All rights reserved.