Ecoener H1 EBITDA Surges 53% on Record Power Output, International Expansion

Shares in Spanish renewable energy company Ecoener rose after it reported a 53% increase in first-half earnings, fueled by record power generation from newly operational international assets.

Strong First-Half Performance

Ecoener announced that its earnings before interest, taxes, depreciation, and amortization (EBITDA) reached €29.9 million in the six months ending in June, according to a company report. This performance was driven by a 29% rise in revenue to €54.2 million.

The company's profitability also improved, with its EBITDA margin widening to 55% from 47% in the same period a year earlier. Net profit for the first half was approximately €3 million. Following the announcement, Ecoener's shares gained 2.8% in Tuesday trading.

Operational Growth Drives Results

The surge in earnings was underpinned by a 51% increase in power generation, which hit a record 612 gigawatt-hours (GWh). This growth is primarily attributed to seven new solar plants with a combined capacity of 253 megawatts (MW) that began commercial operation between late 2025 and early 2026.

Ad

These new projects, located in the Dominican Republic, Colombia, and Guatemala, have lifted Ecoener’s total operating capacity to 680 MW. International operations have become the core of the business, with sales outside of Spain nearly doubling to €43.1 million and now accounting for 79% of total revenue.

Outlook and Expansion Pipeline

Ecoener noted that it has significant revenue visibility, with 87% of its energy sales covered by long-term power purchase agreements (PPAs) or other regulated mechanisms. The company is actively expanding its portfolio, with 1,015 MW of projects now either operating or under construction.

Work has begun on two 200-MW solar plants in Guatemala, both of which are backed by long-term PPAs and are planned to include battery storage. Ecoener aims to bring an additional 500 MW online over the next two years, which would potentially increase its operating capacity to around 1,200 MW by 2028. To support this growth, the company recently issued €15 million in mandatory convertible bonds to strengthen its capital structure.