PRESENTATION WATCH THE VIDEO 2019 FINANCIAL RESULTS DOWNLOAD PDF 2019 SUSTAINABILITY REPORT BUSINESS PLAN WATCH THE VIDEO 2019-2023 BUSINESS FIND OUT MORE DIVISIONS WE CARE ABOUT YOU AND YOURS WATCH CORPORATE VIDEO WE ARE GREENALIA -MEET US- About Greenalia Business divisions Shareholders & investors Sustainability Press Careers LATEST NEWS SUSTAINABILITY GREENALIA BECOMES CARBON NEUTRAL ON YEAR-ONE OF ITS 2019-2023 SUSTAINABILITY PLAN24/04/20Greenalia reinforces its public commitment with sustainability and publishes its first Sustainability Report (2019), a document that becomes a new milestone for year-one in Greenalia’s Sustainability Plan 2019-2023. A plan that has become a real roadmap and annualized action plan for Greenalia’s sustainability outreach. The Plan is divided in three main areas: Our Business, Our Planet and Our Community, these are also subdivided into 9 key areas that reflect areas of maximum potential impact (materiality analysis). These topics were defined collaboratively with stakeholders through a series of consultations always following the Global Reporting Initiative. Under the theme: Change is in the air, the Report shows the actions undertaken by the company in 2019 in pursue of its Sustainability targets. The company pushed forward the energetic transition, corporate ethical and transparency principles and policies, the care of its people, the protection of biodiversity, the fight against climate change, circular economy, local impact, CSR and the protection of cultural heritage. 2019 Milestones Carbon neutrality is one of the main milestones for the company achieved in 2019. In addition to this with the kick-off of operations of the Biomass Plant in Curtis-Teixeiro, and Wind Farms Miñón and Ourol Greenalia will prevent 190.000tCO2 emissions yearly. This is the equivalent to 128.000 cars circulating a year. Another quite relevant fact is the deep local economic impact in local companies where the projects are located, summing up to 50 M€, contributing to job creation in the construction of the wind and biomass projects where 1.600 people from 200 local companies where employed. The Report also highlights a strong commitment Greenalia has with the different needs of stakeholders part of the communities where the company operates. Here, Greenalia has undertaken corporate volunteering actions partnering with the Rías Altas Food Bank, where the company duplicated the donation of 500KG of first necessity products gathered in the initiative. This CSR strategy will be reinforced in 2020 with the kick-off of Greenalia’s Foundation for the energetic transition and equality, through which the company will channel social projects and revert back to society part of the benefits it acquires from its operations. Creating shared value is part of the core principles of Greenalia’s sustainability initiative. In circular economy, the company has achieved its objective of only local biomass supply for the Curtis-Teixeiro Biomass Plant (sourced from a 60KM radius around the Plant), contributing to reduce the carbon footprint of transportation. Apart from this, the clearing of the residue from forestry activities also helps prevent wildfires, plagues and forestry sicknesses. Finally, in biodiversity protection, Greenalia has achieved 800 hours of environmental supervision in the areas where it has the Wind Farms. Link to Sustainability Report 2019... Read more...GREENALIA PARTNERS WITH UNICEF DONATING SANITARY RESOURCES FOR THE FIGHT AGAINS COVID-1907/04/20Leading through the adverse conditions created by COVID-19 (Coronavirus) Greenalia has enacted a series of protocols and emergency measures to protect and safeguard its people and suppliers. At the same time, being a critical energy supplier considered “essential” by the emergency state regulations Greenalia stays the course and operates normally complying with security and health and safety regulations. Part of Greenalia’s social initiative and being aware of the needs of sanitary personnel the company partnered with UNICEF to create a protective sanitary resources fund (FFP1) that will allow our doctors and medical staff to perform their duties safer and more effectively. Through this partnership with UNICEF Galicia, Greenalia will make a donation to acquire said sanitary resources joining the fight against Coronavirus our nº 1 enemy at this time. Greenalia’s resilient business model has been tested these past weeks and its leadership has stepped up and shown great foresight by starting the remote working and safety protocols ahead of the national state emergency regulations.... Read more...Greenalia and the University of Vigo collaborate in a research project on the heat value and quality of biomass29/01/20The Forestry Engineering School of the University of Vigo, in collaboration with Greenalia, has conducted a series of research projects and lab studies with forestry biomass samples from different areas in Galicia The main purpose of these studies, that are ongoing since 2016, has been to analyze the properties of the biomass that will be sourced to Greenalia’s Biomass Plant in Curtis-Teixeiro and specifically its energetic value. The Plant will use around 500.000 annual tons of forestry residue from local sources. “It is important to collect this residue that comes exclusively from forestry activities and wood cutting surplus to mitigate the risk of plagues and wildfires in the region” – the company stated. In addition to its environmental benefits, the use of biomass as a source of renewable energy creates wealth and jobs in the fields and in the Plant. The construction work of the Plant generated more than 1.000 jobs (indirect and direct) about 100 of these jobs will be stable and permanent once the Plant starts its operation (35 in the facilities and the rest in the sourcing of the biomass). The results of the study indicate that the biomass material holds the right properties for its energy generation use in big scale projects such as this one and include recommendations regarding the humidity percentage, thermal treatment, optimal drying times, packaging and transportation. Greenalia trusts the research team from the Forestry School of the University of Vigo and the work they have done strongly supports technical decisions made in the Biomass Plant project from the earlier stages of planning. For example, the information that the University of Vigo provided was key to selecting the right type of boiler that will be used in the Curtis-Teixeiro Biomass Plant that uses a bubbling fluidized bed system that generates heat very efficiently, with very high performance of materials and considerably reducing environmental emissions. University-Corporation collaborations are considered by Greenalia as a uniting bridge between the corporate sector, scientific research and quality higher education standards, and in the last few years the company has conducted several of these collaborative projects with the University of Vigo and the University of Santiago de Compostela.... Read more...Greenalia starts a Foundation to strengthen its CSR initiative21/01/20Greenalia’s BoD sets as one of 2020 milestones the creation of a Foundation that will lead and support Renewable Energy Transition and Equality initiatives in line with UN’s Sustainable Development Goals for 2030. Greenalia’s Board of Directors met yesterday and defined the company’s core strategic objectives for 2020 after the important achievements of 2019. In 2019, the company’s Biomass Plant (Curtis-Teixeiro) progressed greatly and it is scheduled to be connected to the grid in the following days. In addition to this, Greenalia synchronized its Miñón Wind Farm (Vimianzo) in December and grew up its fotovoltaic portfolio. Wind, Solar and Biomass projects will be at the core of the company’s efforts in 2020 with the goal of surpassing 250MW in both “in operation” and “under construction” projects. The Board’s meeting has announced one of the key objectives for 2020: the creation of a Foundation that will pursue renewable energy transition and equality initiatives. Through these initiatives the Company wants to give-back to society and the environment part of the wealth that is generated from the Company’s sustainable projects. The Foundation will become instrumental in channeling environmental, sustainable and diversity initiatives in the towns and regions where it operates. It will become another path and propeller towards the UNs Sustainable Development Goals (SDGs) of 2030 and another step in the consolidation of Greenalia’s strong Corporate Social Responsibility strategy and agenda. The plan is to complete the creation of the Foundation in the first half of 2020. The Board has already been working in its design, key profiles, legal implications and dimension. “We understand that we are generating a very important asset and tool, through which we’ll be able to channel and respond to the growing need to return to society and the environment part of the wealth that we are generating through efficient and sustainable use of renewable energy resources” the company’s official statement stands. This new strategic move from Greenalia is aligned with several of the 17 UN SDGs: wellbeing, gender equality, renewable energy, the improvement of earth ecosystems, action to prevent climate change, innovation in industry and the pursuit of more sustainable communities and cities. Greenalia is deeply committed to these and its own sustainability objectives, that is why this new move has been pushed into the company’s 2020 strategic agenda. ... Read more...YOUNG PEOPLE MENTORED BY IGAXES VISIT OUR FORESTRY OPERATIONS AND BIOMASS PLANT02/01/20There are 3.000 boys, girls and teenagers in Galicia under protection and each year, hundreds of them are to start a life on their own, once they turn 18. They were protected when they were underaged, but they now have to face adulthood alone, as they do not have a family to go back to. Through their Mentor programme, a local social organization, Igaxes, supports more than 5.500 young people since 2005 by means of providing supervised independent living arrangements, food, training and access to employment. This programme has become a reference in youth support at a national and European level. “These kids are greatly exposed to unemployment and precarious jobs” – Igaxes states. “The sense of loneliness and depression risk are more likely than among the rest of the youth”. One out of four children and youngsters are in risk of poverty in Galicia and the work that Igaxes develops is key to change this situation. With the organization of this visit, Greenalia wants to show support to the work of Igaxes in Galicia and to open its doors to these young people so that they can learn about potential professions in the forestry and renewable energy sector as well as connect with Greenalia’s training programmes. With collaboration of the Galician local government and Forma-T, Greenalia is training more than 60 unemployed people as forestry machinery operators in 2019 and plans to train another 60 people in the first quarter of 2020.... Read more... More News CORPORATIVE Lastest News 2020GREENALIA STARTS THE DEVELOPMENT OF THE FIRST FLOATING OFFSHORE WIND FARM OF GRAN CANARIA02/06/20The company GREENALIA is launching its first Floating Offshore Wind Project in Gran Canaria by filing its project & environmental planning application. The project Parque Eólico GOFIO is a 50 MW offshore wind farm located in the South East of the Gran Canaria Island, in front of the municipality of San Bartolomé de Tirajana and in close proximity to the port of Arinaga. The power plant is formed by four 12,5 MW offshore wind turbines on top of floating foundations and will deliver the energy produced by the use of submarine cables. The project is located in one of the areas with highest wind resource in Europe as it has been highlighted in several energy reports. In this way, GREENALIA (based in Galicia, Spain) is endorsing its committment on developing green energy projects as part of the New Green Deal and subsequently wants to be a key part of the descarbonization process both in Spain and Europe. The same way, GREENALIA wants to diversify its energy portfolio by adding on of the most promising Renewable Energy sources to it, as offshore wind is surely the source with the biggest growth rate in the World in the last decade, but also with a vast development potential throughout the World´s Seas and Oceans GREENALIA believes firmly that this project could help to unlock the potential of Offshore Wind Energy in Spanish coasts. The same way, GREENALIA believes that the development of this project will have a significant positive effect in local Canary economy by creating a lot of direct and indirect jobs, but also will be an important opportunity for Galician industry suppliers to lead the coming Floating Offshore Wind market. In this sense, the European Commission currently considers Offshore Wind Energy as the main basis of green energy growth in Europe for coming years in order to achieve the 2050 “zero emisión” target, the same way that the International Energy Agency (IEA) predicts that Offshore Wind Energy will be the main energy source in Europe by 2042. In late 2019, Wind Europe presented their manifest “Our Energy, Our Future”, where sets a target of 450 GW of Offshore Wind energy in Europe by 2050. The same way, this manifest sets a 13 GW target for Spain to meet the European target, while currently there is only a 5 MW offshore wind turbine connected to the Spanish Grid, in the Canary Islands. The energy produced by Parque Eólico Gofio will be enough to feed approximately 70.000 households, as well as avoiding the equivalent of 140.000 tons on CO2 or the emissions of the 90.000 cars yearly. It is expected that the full development, construction and operation of Parque Eólico Gofio will contribute to the green development in the Canary Region in order to meet 310 MW Marine Renewable Energy target established by the Canary Government in 2017 in the so-called “Estrategia Energética de Canarias 2015-2025 (EECan25)”. But furthermore, it is also expected that this development and others coming will position the Canary Island as one of the leading Regions in the World on the develoment of Floating Wind Energy.... Read more...GREENALIA WILL START OPERATING OUROL WIND FARM IN JUNE07/05/20Ourol Wind Farm, part of Greenalia’s Eolo Project has an installed capacity of 22,5 MWs and has mobilized 230 jobs. The company, headquartered in A Coruña, continues operating normally through the COVID-19 crisis as it belongs to an essential and strategic sector. Greenalia will start operation of its Ourol Wind Farm (Lugo) in June. The facilities, with an installed capacity of 22,5 MWs, will start selling energy this upcoming summer. Ourol will become Greenalia’s second operative Wind Farm after the completion and grid connection last December of its Miñón Wind Farm in Vimianzo. Ourol Wind Farm, now that the civil construction phase has been completed, goes into aerogenerator set-up phase, with 5 machines being installed, 4,5 MW each, and a 136 meter rotor. The investment in this Wind Farm totals 26 Million Euros which has great local economic impact, with 230 jobs mobilized in both construction and kick-off phases. Once the Wind Farm is fully operational, it will produce 65.300 MWh/year, with a positive environmental impact because thanks to this renewable energy generation 24.150 tCO2/year will be avoided, the equivalent to 16.300 cars circulating a year. In the last quarter of 2020 three more Wind Farms will be completed in A Coruña: Alto de Croa, Alto de Croa II and Monte Tourado, all of them today in advance administrative stage. These 5 Wind Farms comprise Phase I of Greenalia’s Eolo Project and once its fully operational it will amount to 74,2 MW which represents great economic and development (jobs) impact in the areas where these projects are situated specially taking into account the Covid-19 pandemic context in which we are all immersed. The investment for Phase I of Eolo will amount to 87 Million Euros and will mobilize 1.000 jobs. In addition to this Greenalia strengthens its position as a resilient industrial player through Covid-19 crisis, keeping and even growing its corporate headcount and also dynamizing the regions economy in quite an exceptional and challenging scenario. ... Read more...Greenalia consolidates its Solar portfolio with 600 MW with grid access20/04/20All of it situated in maximum production areas (Zona V) of the key solar resource areas of the Iberian Peninsula (Andalucia and Comunidad Valenciana). Once grid access was consolidated the company continues with the rest of the administrative requirements. The average resource of the facilities is over 2.000 annual hours. Greenalia consolidates its pipeline with 600MW solar energy projects with grid access. This portfolio is structured as follows: a 350MW-project, another 100MW one and three additional 50MW projects; located in the key solar resource areas of the Iberian Peninsula (Andalucía & Comunidad Valenciana). The aforementioned projects are located in areas with maximum solar resource, classified as Zona V, with an annual capacity factor of 22-25% (over 2.000 hours of production), way over the yearly average of 18,8% (1.645 equivalent hours, according to the Informe Operación Sistema Eléctrico 2018, published by REE). Once the grid access was consolidated, the company continues with the remaining administrative requirements for the mentioned projects. #1-5-100 Plan This achievement is another milestone in the path towards the Strategic Plan 2019-2023 in which the company contemplates the completion and kick-off of 430MW of solar projects. ... Read more...GREENALIA CONTINUES TO OPERATE IN ALL BUSINESS AREAS (COVID-19 UPDATE)27/03/20The company started its remote working, security and hygiene protocols 14 days ago (13 March 2020) and before the State Alarm Decree was enacted in an effort to protect its people and their safety. Over 25% of Greenalia`s people are working remotely (the whole team in central offices), and in our energy production facilities we have strengthened our protective measures and safety protocols while we also keep a close eye on the evolution of the crisis. 03/26/2020 – Greenalia continues operating all its business divisions ‘normally’ amidst a very volatile and uncertain situation that has heightened our level of security alert to maximum to protect our people and comply with the temporary regulatory framework enacted for the crisis. This morning the company held its first virtual townhall named Virtual Green Café where the company’s executives shared with the whole Greenalia team the status of operations and the different actions undertaken to face the current challenges. It was also a chance to connect, for the different teams and professionals that are now under strict seclusion and quarantine measures after 12 days in state of alarm. During the virtual café Manuel García, Greenalia’s CEO, has shared a message of confidence and encouragement with the staff: “our company’s business model is resilient, the sector we are in is strategic and these factors contribute to put us in a good position to navigate this crisis, until this moment we are continuing operation and production and we remain vigilant on how things unfold”. The CEO also highlighted that thanks to the strategic efforts the company has made over the last years where the company invested heavily in technology upgrades and in its digital transformation, the transition to working remotely was smooth and the company could even anticipate the declaration of state of alarm and the forced quarantine. With respects to the protocols and measured adopted in the business areas where working remotely is not possible the company is following the strict guidelines and regulations provided by the National Health Authorities accompanying this with fluid internal communications. We’ve limited the contact of essential personnel with their teammates and eliminated it with third parties, suppliers and habitual collaborators with whom we keep a close and digitalized communication and sustained cooperation. Through this virtual event, Manuel García (Greenalia’s CEO) also reinforced a message of confidence and calm for the staff: “our company’s ability to continue our operations amidst the crisis in all our business areas can provide an optimistic perspective regarding our company’s performance and business resilience.” He also took the chance to thank and recognize the sacrifice and hard work of all the people in the company in these testing times while also extending the praise to all the professionals in health and security that are fighting relentlessly against this virus (COVID-19). About Greenalia Greenalia is an Independent Power Producer (IPP) exclusively with renewable technologies. The company’s main activity is the generation and sale of electrical energy. Its business focuses on three technologies: wind, solar photovoltaic and biomass, where it currently is vertically integrated from the origin of the raw material to the production of electrical and thermal energy. The company has more than 12 years’ experience in the sector and is currently listed on the BME-MaB (Alternative Stock Market) since December 2017. The income obtained by the facilities area long-term flows, thus allowing structuring a non-recourse financing (Project Finance) and obtaining dividends and inflows in a constant and secure manner. Greenalia’s headquarters are located in A Coruña and it has production centers (both planned and in operation) in Galicia, Asturias, Extremadura, Comunidad Valenciana, Andalucía, Murcia and Castilla y La Mancha. ... Read more...GREENALIA’s FIRST 135 M€ BIOMASS PLANT GOES INTO OPERATION10/03/20The renewable energy company has obtained the definitive RAIPREE and requested the REE inscription a month ahead of schedule. In March it began selling energy at the price set by the 2016 auction. Last Friday 28 February the CNMC published an update of the retribution parameters for the upcoming regulatory period. Said revision amplifies the Ro collection rights from 6599 to 7500 total annual hours. This parameter update will benefit income generation, it will now be over 37 million euros when the Plant starts operating at maximum capacity during 2021 and it will result in over 17 million euros of EBITDA. It is the most technologically advanced Plant in Spain and the most important Forestry Biomass Plant in the South of Europe. Greenalia’s first Biomass Plant, located in Curtis-Teixeiro (A Coruña) goes into operation after a 19-month construction phase and ahead of schedule. Greenalia started selling its green electricity 1 March 2020 according to the regulated sales framework obtained in the 2016 auction. Last Friday 28 February 2020 the TED/171/2020 Order was published in the Official Spanish Gazette (BOE) “by which the standard type retribution parameters were updated for certain renewable energy generating facilities”, said update upgrades the Ro collection rights from 6500 to 7500 total annual hours. This update will increase revenues in 5 million euros and EBITDA in more than 2 million euros. In the same way, and in relation with Circular 3/2020, published 15 January, of the CNMC, eliminated the generation toll that it applied to energy generation facilities that amounted to 0,5 €/MWh. Lastly, last 3 December, the CNMC published Circular 4/2019 by which it established the retribution methodology starting January 2020 for the electric grid operator. It established that a 0,13741 €/MWh cost will be applied to all energy generation facilities destined to finance the grid operator and applied to all production that is transferred to the grid. After a 135 M€ investment, the Curtis Forestry Biomass Plant became the most important one in the South of Europe, one of the two biggest facilities in Spain and the first technology wise. The go-live of the Plant’s operations will generate 37 M€ in sales and an over 17 M€ EBITDA. In the next 25 years of its estimated lifespan it will generate: (a) a recurring income of above 1050 M€ in energy sales; and (b) 340 M€ in forestry residue supplies for Greenalia Forest (a Group’s subsidiary company forestry residue provider for the Plant). Manuel García, Greenalia’s CEO, points out that: “(…) with this milestone, Greenalia consolidates itself as an important player in the de-carbonization of Spain, moreover it shows the rigor and professionalism of our company in achieving its business plan (2023) even earlier than forecasted.” The Biomass Plant (Curtis-Teixeiro) becomes Greenalia’s second renewable energy generation project. The first one being the Miñón Wind Farm that started operations the last quarter of 2019. These two projects, together with the rest of the projected and currently under development wind farms and solar projects, will amount for 1 GW of installed power by 2023. Protecting the Environment and Creating Local Wealth The 50 MW Biomass Plant will generate energy that could supply a 250.000 people area and avoid 393.973 tons of CO2 emissions a year. During the construction phase, it generated more than 1.000 jobs (direct and indirect), 100 of these will be permanent (35 in the Plant and the rest in forestry biomass residue gathering and management). “The kick-off of operations of our Biomass Plant, confirms the value of these technologies in environmental protection, since it reduces greenhouse gases while also cleaning our woods and reducing the risk of wildfires. Moreover, it consolidates the huge potential that Galicia has in renewable energy as a source of growth for the whole Autonomous Region, helping in population settlement and creation of new job opportunities” the CEO of the listed company added to his statement. The Facilities Greenalia’s Biomass Plant incorporates the latest technology applied to biomass energy generation infrastructures in compliance with the highest standards and European strictest regulatory frameworks. The facilities are highly efficient with respects to energy generation and a very reduced level of CO2 emissions. It uses dry refrigeration which means it barely consumes water and does not generate spills. The plant has the capacity to consume 500.000 tons of forestry residue that will be collected from woods that have an FSC or PEFC certification located within a 100 KM of the Plant. The Biomass Plant (Curtis-Teixeiro) has been the second project that Greenalia has financed with a Project Finance structure. Greenalia also became the first PYME (Small & Medium Enterprise) to issue a green bond in Europe. Its financing obtained top marks (E1) as green financing by Standard&Poor’s. Additionally, this financing obtained the Best European Biomass Project IJ Global Award in 2018. Additionally, the company has secured a 28-million-euro bilateral loan for its greenfield projects and it has currently disbursed 18 million of those funds. This financing tranche will allow the development of those projects until the obtain RTB (ready to build) status.... Read more... More News
