Urbasolar finishes its fiscal year on April 30th, 2016 with a turnover and results showing an increase of 25%. The group’s activity generated 66 M€ in turnover. It is on target for the goals set out at the beginning of 2015 to double its activity by 2018, for 100 M€ in turnover in 2018. The winning projects of the most recent CRE calls for offers in Metropolitan France and in the overseas territories have reinforced this growth plan, with 2 years of orders for projects benefiting from the currently secured feed-in tariff per kilowatt hour.
The group confirms its position as a leader and an independent photovoltaic pure player in the renewable energy sector: its financial performance translates a steadfast policy of innovation used in the design of systems, construction processes, financial engineering, and operation of power plant fleets.
Since the beginning of 2016, Urbasolar has accelerated the development of new projects, with 500 MW currently being developed in France, and a goal to double that by the end of 2017. The group also reinforces its research activities in the integration of systems into electricity grids, the operation of power plant fleets, and energy storage, be consolidating its R&D team and its research contracts. To support the acceleration of its projects’ development and the introduction on the market of its new products, June 22nd Urbasolar raised 15 M€ in financing for its working capital from a banking pool composed of Crédit Agricole of Languedoc, arranger, LCL, Caisse d’Epargne of Languedoc Roussillon, Société Marseillaise de Crédit, and Crédit Coopératif. This new financing tool reflects the group’s desire to anticipate support for its growth over the next 3 years, and the successful integration of partnerships with its historic banking partners.
Urbasolar finishes with a turnover up 25%!
