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Acciona Energia has reported a 31% decline in profits for the year 2023

Spanish renewables company Acciona Energia booked an attributable net profit of EUR 524 million (USD 573.7m) in 2023, down by 30.9% year-on-year, as revenues and EBITDA declined in the context of the normalisation of energy prices.

Although prices continued to be higher compared to pre-energy crisis levels, Acciona Energia’s average generation price in 2023 was EUR 86.4/MWh, 24.2% lower than in the year-ago period.

“The impact of the downward trend in prices was to some extent mitigated by hedging, production from newly commissioned assets and growth in the results reported by the International division,” the company said in its earnings report for 2023.

The company’s total installed capacity worldwide stood at 13,523 MW at the end of 2023, after the addition of 1,697 MW of new renewables. Consolidated capacity rose by 2,247 MW to 12,131 MW.

Acciona Energia operates a diverse portfolio, spanning solar PV, wind power, hydro, biomass, solar thermal and energy storage, with assets spread across all continents except Antarctica.

Total power production increased by 4% year-on-year to 24,894 GWh, thanks to new plants coming online. Consolidated production rose by 9% to 21,433 GWh.

The company expects to add a further 1.7 GW of renewables in 2024.


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