polyczyno_poland_upper

Notice of Annual General Meeting 2015

Pursuant to article 8 of the articles of association, notice is given that the Annual General Meeting of Greentech Energy Systems A/S
will be held on Wednesday, 15 April 2015 at 3.00 pm,
at Radisson Blu Royal Hotel, Hammerichsgade 1, 1611 Copenhagen V, Denmark

 

Read the PDF file

Årsrapport for 2014

Greentech Energy Systems A/S offentliggør årsrapporten for 2014

Hovedpunkter:

  • Nettoproduktion på 387,5 GWh sammenlignet med 405,2 GWh i 2013 (- 4%)
  • Omsætning på MEUR 69,1 sammenlignet med MEUR 75,4 i 2013 (- 8%), inkl. omsætning fra associerede virksomheder
  • EBITDA på MEUR 41,0 sammenlignet med MEUR 45,4 i 2013 (- 10%) inkl. EBITDA fra associerede virksomheder og eksl. særlige poster
  • EBITDA-margin59% inkl. associerede virksomheder og eksl. særlige poster og på 65% inkl. associerede virksomheder og ekskl. miljø-aktiviteterne
  • Miljøhensyn: Bruttoproduktionen i 2014 kunne forsyne ca. 156.000  husstande med elektricitet, hvilket reducerede CO2 udledningen med ca. 250.000 ton eller CO2 udledningen fra mere end 100.000 biler

 

Læs PDF filen på engelsk

Annual Report 2014

Greentech Energy Systems A/S publishes its Annual Report for 2014.

Highlights:

  • Net production  of 387.5 GWh compared to 405.2 GWh in 2013 (- 4%)
  • Revenue of EUR 69.1M compared to EUR 75.4M in 2013 (- 8%) including revenue from Associates
  • EBITDA of EUR 41.0M compared to EUR 45.4M in 2013 (- 10%) including EBITDA from Associates and excluding Special Items
  • EBITDA margin including Associates and excluding Special Items of 59% and of 65% excluding Environment
  • Environment Protection: Gross Production in 2014 supplied approx. 156,000 families, reduced the CO2 emissions by approx. 250,000 tons equaling the elimination of emissions from more than 100,000 cars

 

Read the Annual Report – PDF

 

 

03/2015: Månedlig opdatering for februar 2015

Vind

  • I februar 2015 var den samlede vindproduktion i overensstemmelse med forventningerne.
  • Vindparkerne i Polen og Tyskland oplevede svage vindforhold, mens produktionen i Spanien var på linje med forventningerne.  Til gengæld leverede de italienske og danske parker en lidt højere produktion end forventet, henholdsvis +3% og +5%.
  • År til dato-tallene er noget højere end forventet (+12%) og lidt lavere end i samme periode 2014 (-4%).

 

Sol

  • I februar 2015 var produktionen fra solanlæggene 13% højere end forventet.
  • Den gennemsnitlige solindstråling var højere end forventet i Italien, hvor produktionen oversteg forventningerne med 16%. I Spanien var produktionen lidt højere end forventet (+4%) og væsentligt højere end i februar 2014 (+37%) takket være højere gennemsnitlig solindstråling.
  • År til dato-tallene for nettoproduktionen fra solanlæggene var noget højere end budgetteret (+11%) og i forhold til samme periode i 2014 (+17%).

 

Læs meddelelse

 

03/2015: Monthly Update for February 2015

Wind

  • In February 2015, the total wind production was in line with estimates.
  • In particular, our wind plants in Poland and in Germany were affected by low wind speed while in Spain the production was in line with estimates. On the contrary, the Italian and Danish turbines delivered a production slightly higher than expected: by 3% and 5%respectively.
  • Year-to-date figures are fairly higher than expected (+12%) and slightly below those from February 2014 (-4%).

 


Solar

  • In February 2015, the total solar production was 13% above estimates.
  • In particular, the average irradiation was higher than expected in Italy, raising the solarproduction by +16% compared to estimates. In Spain, the solar production was slightly higher than expected (+4%) and considerably higher than in February 2014 (+37%) due to a higher average irradiation.
  • Net solar production year-to-date was fairly higher than budget (+11%) and the same period last year (+17%).

 

Read the PDF file

 

 

 

02/2015: Månedlig opdatering for januar 2015

Vind

  • I januar 2015 var den samlede vindproduktion 25 % over forventningerne.
  • Takket være gunstige vindforhold i Europa var produktionen fra parkerne i Italien og Tyskland markant over forventningerne, henholdsvis 28 % og 26 %. Parkerne i Danmark og Polen leverede en lavere produktion end i samme periode sidste år, hvilket primært skyldtes ekstraordinært gode vindforhold i begge lande i januar 2014.

 


Sol

 

  • I januar 2015 var produktionen fra solanlæggene 10 % højere end forventet og 31 % højere end i januar 2014.
  • Den gennemsnitlige solindstråling var højere end forventet, særligt i Spanien, hvor produktionen fra solanlæggene oversteg forventningerne med 20 %.

 

Læs meddelelse

 

02/2015: Monthly Update for January 2015

Wind

  • In January 2015, the total wind production was 25% above estimates.
  • In particular, due to favourable wind conditions across Europe, the Italian and German wind farms performed significantly above budget: 28% and 26% respectively. Danish and Polish wind farms performed lower than the same period last year, primarily due to extraordinary favourable wind conditions in the two countries in January 2014.

 


Solar

 

  • In January 2015, the total solar production was 10% above estimates and 31% higher than in January 2014.
  • The average irradiation was higher than expected especially in Spain, raising the solar production by +20% compared to estimates.

 

 

Read the PDF file

 

 

 

01/2015: Månedlig opdatering for december 2014

Vind

  • I december 2014 var den samlede vindproduktion 14% under forventningerne.
  • Takket være særligt gunstige vindforhold i Nordeuropa var produktionen fra parkerne i Tyskland (+23%), Danmark (+12%) og især Polen (+42%) markant over forventet niveau. Parkerne i Italien og Spanien leverede en lavere produktion end forventet. Den samlede produktion var 28% højere end i december 2013.
  • I 2014 leverede Greentechs vindportefølje en samlet bruttoproduktion på ca. 404 GWh, et fald på 6% i forhold til 2013.

 


Sol

  • I december 2014 var produktionen fra solanlæggene højere end forventet (+10%).
  • Den gennemsnitlige solindstråling var højere end forventet, særligt i Spanien, hvor produktionen fra solanlæggene oversteg forventningerne med 24%.
  • I 2014 leverede solporteføljen en bruttoproduktion på 65 GWh, hvilket er på samme niveau som i 2013.

 

I 2014 var Greentechs realiserede produktion i overensstemmelse med de reviderede forventninger, som blev offentliggjort i december 2014.

Læs meddelelse

 

01/2015: Monthly Update for December 2014

Wind

 

  • In December 2014, the total wind production was 14% below estimates.
  • Due to extremely favourable wind conditions across Northern Europe, the production from the German (+23%), Danish (+12%) and especially Polish (+42%) wind farms was significantly above expectations. The Italian and Spanish wind farms delivered a production below the expected level. The total production was 28% higher than December 2013.
  • In 2014, the Greentech wind portfolio reached a total gross production of approx. 404 GWh, -6% compared to 2013.

 


Solar

 

  • In December 2014, the solar production was fairly higher than expected (+10%).
  • The average irradiation was higher than expected especially in Spain, raising the solar production by +24% compared to estimates.
  • In 2014, the solar portfolio generated a gross production of 65 GWh, in line with 2013.

 

Overall, in 2014, Greentech production has reached the revised outlook published in December 2014.

 

Read the PDF file

 

 

 

17/2014: Månedlig opdatering for november 2014

Vind

  • I november 2014 var den samlede vindproduktion 9% under forventningerne.
  • På grund af ringe vindforhold i Europa leverede næsten alle parker en lavere produktion end i november 2013. I Italien var produktionen stort set på budgetteret niveau primært takket være Energia Alternativas bidrag (+19%).
  • År til dato-tallene er på forventet niveau, men lavere end sidste år grundet særligt gunstige vindforhold i Italien og Spanien i samme periode i 2013.


Sol

  • I november 2014 var produktionen fra solanlæggene lidt lavere end forventet.
  • Den gennemsnitlige solindstråling i både Italien og Spanien var lavere end forventningerne.
  • År til dato-tallene er på forventet niveau og marginalt højere end i samme periode sidste år.

 

Læs meddelelse

 

17/2014: Monthly Update for November 2014

Wind

  • In November 2014, the total wind production was 9% below estimates.
  • Due to poor wind conditions across Europe, almost all our wind farms delivered a production lower than November 2013. In Italy, the production nearly reached the budget mainly due to Energia Alternativa contribution (+19%).
  • Year-to-date figures are in line with expectations and lower than the year-earlier period due to extraordinary favourable wind conditions in Italy and Spain over the same period in 2013.


Solar

  • In November 2014, the solar production was slightly lower than estimated.
  • The average irradiation was lower than expected both in Italy and Spain.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

Read the PDF file

 

 

 

16/2014: Reviderede forventninger til 2014

I kvartalsrapporten for 3. kvartal 2014, som blev offentliggjort den 12. november 2014, fastholdt Greentech forventningerne til 2014.

Desværre har Greentech realiseret en lavere produktion, grundet ringere vejrforhold i oktober og november, samt oplevet faldende afregningspriser i løbet af 2014.

 

Læs meddelelse

 

16/2014: Revised full-year guidance for 2014

In the Q3 Interim Report for 2014, published on 12 November 2014, Greentech confirmed the Outlook for 2014.

Unfortunately, a negative volume-effect, due to less favorable weather conditions in October and November, added up to the decline in energy prices that Greentech has been experiencing during 2014.


Read the full announcement in the PDF file

 

 

 

15/2014: Indberetning af transaktioner med Greentech Energy Systems A/S’ aktier

Indberetning af ledende medarbejderes og disses nærtståendes transaktioner med Greentech Energy Systems A/S’ aktier og tilknyttede værdipapirer

 

Læs meddelelse

 

15/2014: Notification of transactions in Greentech Energy Systems A/S’ shares

Notification of transactions in Greentech Energy Systems A/S’ shares and other securities linked to such shares, carried out by executive employees and close relations of executive employees.

 

Read the PDF file

 

14/2014: Månedlig opdatering for oktober 2014

Vind

  • I oktober 2014 var den samlede vindproduktion væsentligt under forventningerne.
  • Produktionen i alle 5 lande var lavere end forventet grundet generelt ringe vindforhold i Europa. Af samme grund leverede parkerne i Tyskland, Italien og Spanien en væsentligt lavere produktion end i oktober 2013.
  • År til dato-tallene er på forventet niveau og lidt lavere end sidste år grundet særligt gunstige vindforhold i Italien og Spanien i samme periode i 2013.

 

Sol

  • I oktober 2014 var produktionen fra solanlæggene lidt lavere end forventet.
  • Den gennemsnitlige solindstråling i Italien var lavere end forventningerne, mens Spanien oplevede højere solindstråling, som resulterede i en produktionsstigning på 11 % i forhold til oktober 2013 og 6% i forhold til forventningerne.
  • År til dato-tallene er på forventet niveau og marginalt højere end i samme periode sidste år.

 

Læs meddelelse

 

14/2014: Monthly Update for October 2014

Wind

  • In October 2014, the total wind production was significantly below estimates.
  • In particular, the production from all our Countries was lower than expected due to overall bad wind conditions across Europe. For this reason, our wind farms in Germany, Italy and Spain delivered a production significantly lower compared to October 2013.
  • Year-to-date figures are in line with expectations and slightly lower than the year-earlier period due to extraordinary favourable wind conditions in Italy and Spain over the same period in 2013.


Solar

  • In October 2014, the solar production was slightly lower than estimated.
  • The average irradiation in Italy was lower than expected, while Spain experienced higher irradiation raising the solar production by +11% compared to October 2013 and by +6% compared to estimates.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

 

Read the PDF file

 

Interim Financial Report – Q3 2014

Decline in financials for Q1-Q3 2014

  • Loss year to date 2014, mainly due to the impairment of assets
  • 7% decrease in revenue to EUR 42.3M
  • 8% decrease in EBITDA to EUR 23.2M*
  • 11% decrease in revenue to EUR 52.2M, including revenue from associates
  • 13% decrease in EBITDA to EUR 30.5M, including EBITDA from associates

 

Positive production trend despite average weather conditions in Q3 2014

  • +20% in total net production in Q3 2014 vs Q3 2013: 84 GWh
  • -3% in total net production over Q1-Q3 2014 vs last year, due to lower wind conditions in Spain and Italy: 298 GWh
  • +28% in actual wind production vs. estimates
  • actual solar production in line with estimates

 

Events occurred after 30 September 2014

  • On October the 29th 2014, Mr. Alessandro Reitelli was appointed as new CEO of the Group and continues as COO ad interim.

Mr. Francesco Vittori was appointed as new CFO of the Group

 

Read the PDF File

13/2014: Ændringer i direktionen

Sigieri Diaz della Vittoria Pallavicini, CEO i Greentech Energy Systems A/S, har meddelt bestyrelsen, at han ønsker at fratræde sin stilling med virkning pr. dags dato for at forfølge nye karrieremæssige udfordringer.

På baggrund heraf har bestyrelsen foretaget følgende ændringer i direktionen:

  • Selskabets nuværende CFO og konstitueret COO Alessandro Reitelli overtager stilingen som CEO i Selskabet. Han fortsætter desuden som konstitueret COO (Klik her for at læse CV).
  • Selskabets nuværende Planning & Control Manager Fracesco Vittori indtræder som ny økonomidirektør i Selskabet (Klik her for at læse CV).

 

Læs meddelelse

13/2014: Changes in Management Board

Mr. Sigieri Diaz della Vittoria Pallavicini, CEO of Greentech Energy Systems A/S, has informed the board that he wishes to resign from his position with effect as from today in order to pursue new challenges in his career.

As a consequence of this The Board of Directors has made the following changes to the Management Board:

  • Mr. Alessandro Reitelli, currently CFO and COO ad interim, replaces Mr. Sigieri Diaz della Vittoria Pallavicini and takes up the position as CEO of the Group. He will continue to hold his position as COO ad interim (click here for the cv).
  • Mr. Francesco Vittori, currently Planning & Control Manager, replaces Mr. Alessandro Reitelli and takes up the position as new CFO of the Group (click here for the cv).

 

Read the Announcement

12/2014: Månedlig opdatering for september 2014

Vind

  • I september 2014 var den samlede vindproduktion under forventningerne.
  • Parkerne i Danmark, Tyskland, Polen og Spanien var alle påvirket af lav vindhastighed. Til gengæld var produktionen fra de italienske vindparker på niveau med budgettet og lidt højere end i september 2013.
  • År til dato-tallene er lidt højere end forventet.

 

Sol

  • I september 2014 var produktionen fra solanlæggene lavere end forventet.
  • Den gennemsnitlige solindstråling var lavere end forventningerne i både Spanien og Italien.
  • År til dato-tallene er på forventet niveau og marginalt højere end i samme periode sidste år.

 

 

Læs meddelelse

 

12/2014: Monthly Update for September 2014

Wind

  • In September 2014, the total wind production was below estimates.
  • In particular, Denmark, Germany, Poland and Spain were all affected by low wind speed. On the contrary, our Italian wind farms performed in line with budget and fairly higher if compared to September 2013.
  • Year-to-date figures are slightly higher than expected.

 

Solar

  • In September 2014, the solar production was lower than estimated.
  • The average irradiation was lower than expected both in Spain and in Italy.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

 

 

Read the PDF file

11/2014: Månedlig opdatering for august 2014

Vind

  • I august 2014 var den samlede vindproduktion på linje med forventningerne og 18% højere end i august 2013.
  • Takket være gunstige vindforhold var produktionen højere end forventet i Danmark (+10%) og i Polen (+9%), hvor Polczyno-anlægget producerede væsentligt mere (+32%) end i samme periode i 2013.
    I Italien og Tyskland var produktionen på forventet niveau, mens den spanske Conesa-park producerede mindre end budgetteret på grund af ringe vindforhold.
  • År til dato-tallene er højere end forventet (+8%).

 

Sol

  • I august 2014 var produktionen fra solanlæggene på linje med budgettet og lidt højere end i august 2013 (+7%).
  • Den gennemsnitlige solindstråling var i overensstemmelse med forventningerne i både Spanien og Italien.
  • År til dato-tallene er på forventet niveau og lidt højere end i samme periode sidste år.

 

Læs meddelelse

 

11/2014: Monthly Update for August 2014

Wind

  • In August 2014, the total wind production was in line with estimates and 18% higher than in August 2013.
  • Due to favourable wind conditions, production was higher than expected in Denmark (+10%) and in Poland (+9%), where the Polczyno plant delivered a production considerably higher (+32%) than the same period in 2013.
    In Italy and Germany the production was in line with estimates, while in Spain the Conesa wind farm performed below budget due to low wind speed.
  • Year-to-date figures are fairly higher than expected (+8%).

 

Solar

  • In August 2014, the solar production was in line with budget and fairly higher than in August 2013 (+7%).
  • The average irradiation was in line with expectations both in Spain and in Italy.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

 

 

Read the PDF file

 

10/2014: Monthly Update for July 2014

Wind

  • In July 2014, the total wind production was 31% above estimates and 81% higher than in July 2013.
  • In particular, due to extraordinary favourable wind conditions, the Italian and Spanish wind farms performed significantly above budget: by 58% and 13% respectively. Furthermore, production in Italy was 134% higher than the same period of last year.
  • Year-to-date figures are fairly higher than expected: + 8%.

 

Solar

  • In July 2014, the solar production was in line with budget and slightly lower than in July 2013.
  • The average irradiation was slightly lower than expected in Spain and almost as forecasted in Italy.
  • Year-to-date figures are in line with expected levels and slightly higher than the year-earlier period.

 

 

Read the PDF file

 

10/2014: Månedlig opdatering for juli 2014

Vind

  • I juli 2014 var den samlede vindproduktion 31 % over forventningerne og 81% højere end i juli 2013.
  • Takket være ekstraordinært gunstige vindforhold oversteg produktionen fra parkerne i Italien og Spanien budgettet væsentligt: med henholdsvis 58% og 13%. Derudover var produktionen i Italien 134% højere end i samme periode sidste år.
  • År til dato-tallene er højere end forventet (+8%).

 

Sol

  • I juli 2014 var produktionen fra solanlæggene på linje med budgettet og lidt lavere end i juli 2013.
  • Den gennemsnitlige solindstråling var lidt lavere end forventet i Spanien og næsten som forventet i Italien.
  • År til dato-tallene er i overensstemmelse med forventet niveau og lidt højere end i samme periode sidste år.

 

 

Læs meddelelse

 

Interim Financial Report – Half Year 2014

 
Stable trend in financials for H1 2014

  • Moderate loss year to date 2014
  • 13% decrease in revenue to EUR 28.9M
  • 19% decrease in EBITDA to EUR 16.3M*
  • 15% decrease in revenue to EUR 35.9M, including revenue from associates
  • 22% decrease in EBITDA to EUR 21.4M, including EBITDA from associates

    * Adjusted for Income from Associates

 

Positive trend in the production performance compared to estimates in H1 2014

  • +6% in actual wind production vs. estimates
  • +2% in actual solar production vs. estimates
  • More than 50% of the total expected annual net production has been already generated in H1 2014

 

Read the PDF File

9/2014: Monthly Update for June 2014

Wind

  • In June 2014, the total wind production was below estimates.
  • In particular, due to poor wind conditions all around Europe, the production generated in all our five countries was below expected level, especially in Denmark and Germany.
  • Year-to-date figures are fairly higher than expected (+6%), but below those from the same period of last year, primarily due to extraordinary favourable wind conditions in Italy in June 2013.

 

Solar

  • In June 2014, the solar production was in line with budget and the year-earlier period.
  • The average irradiation was slightly higher than expected in Italy and almost as forecasted in Spain.
  • Year-to-date figures are in line with expected levels and slightly higher than in June 2013.

 

 

Read the PDF file

9/2014: Månedlig opdatering for juni 2014

Vind

  • I juni 2014 var den samlede vindproduktion under forventningerne.
  • På grund af de dårlige vindforhold i hele Europa var produktionen i alle vores fem lande under forventet niveau, især i Danmark og Tyskland.
  • År til dato-tallene er lidt højere end forventet (+6%), men lavere end tallene for samme periode sidste år, hvilket især skyldes ekstraordinært gode vindforhold i Italien i juni 2013.

 

Sol

  • I juni 2014 var produktionen fra solanlæggene på linje med budgettet og med samme periode i 2013.
  • Den gennemsnitlige solindstråling var lidt højere end forventet i Italien og næsten som forventet i Spanien.
  • År til dato-tallene er i overensstemmelse med forventet niveau og lidt højere end i juni 2013.

 

 

Læs meddelelse

 

8/2014: Månedlig opdatering for maj 2014

Vind

  • I maj 2014 var vindproduktionen lidt under forventningerne.
  • På den ene side var produktionen, takket være gode vindforhold, højere end forventet i både Spanien (+7%) og især i Polen (+24%), hvor Polczyno-vindparken opnåede en væsentlig højere produktion (+57%) sammenlignet med samme periode i 2013. På den anden side var produktionen i Danmark, Tyskland og Italien under forventningerne på grund af lav vindhastighed.
  • År til dato-tallene er højere end forventet (+8%).

 

 Sol

  • I maj 2014 var produktionen fra solanlæggene lidt højere end forventet.
  • De spanske solanlæg oplevede, takket være højere solindstråling, en produktionsstigning på 13% i forhold til forventningerne, mens de italienske solanlæg leverede en produktion på linje med forventningerne.
  • År til dato-tallene er i overensstemmelse med forventet niveau og højere end i samme periode sidste år (+6%).

 

 

Læs meddelelse

 

8/2014: Monthly Update for May 2014

Wind

  • In May 2014, wind production was slightly below estimates.
  • On one hand, due to favourable wind conditions, production was higher than expected in Spain (+7%) and especially in Poland (+24%), where the Polczyno plant delivered a production considerably higher (+57%) compared to the same period in 2013. On the other hand, in Denmark, Germany and Italy the production was below estimates due to low wind speed.
  • Year-to-date figures are fairly higher than expected (+8%).

 

 Solar

  • In May 2014, the solar production was slightly higher than expected.
  • In particular, due to higher irradiation, Spanish plants registered a production increase fairly above expected levels (+13%) while solar production in Italy was in line with estimates.
  • Year-to-date figures are in line with expected levels and higher than the year-earlier period (+6%).

 

 

Read the PDF file

7/2014: Månedlig opdatering for april 2014

Vind

  • I april 2014 var vindproduktionen på forventet niveau.
  • Takket være gunstige vindforhold var produktionen lidt højere end forventet i både Italien (+3%) og Spanien (+5%), hvor Conesa-anlægget producerede væsentligt mere (+43%) end i samme periode i 2013.
    I Polen, Danmark og Tyskland var produktionen under forventningerne på grund af lav vindhastighed.
  • År til dato-tallene er højere end forventet (+ 11%).

 Sol

  • I april 2014 var produktionen fra solanlæggene i Italien lidt lavere end forventet på grund af lavere gennemsnitlig solindstråling og i overensstemmelse med forventningerne i Spanien.
  • År til dato-tallene er på linje med forventet niveau og lidt højere end i samme periode sidste år.

 

Læs meddelelse

 

7/2014: Monthly Update for April 2014

Wind

  • In April 2014, wind production was in line with estimates.
  • In particular, due to favourable wind conditions, production was slightly higher than expected both in Italy (+3%) and in Spain (+5%), where the Conesa plant delivered a production considerably higher (+ 43%) compared to the same period in 2013.
    In Poland, Denmark and Germany the production was below estimates due to low wind speed.
  • Year-to-date figures are fairly higher than expected (+ 11%).

 

 Solar

  • In April 2014, due to lower average irradiation, solar production figures were slightly lower than estimated in Italy and in line with budget in Spain.
  • Year-to-date figures are in line with expected level and slightly higher than the year-earlier period.

 

Read the PDF file

Interim Financial Report – First Quarter 2014

Stable trend in financials for Q1 2014

  • Profit year to date 2014
  • 11% decrease in revenue to EUR 14.4M for 2014
  • 15% decrease in EBITDA to EUR 8.4M*
  • 12% decrease in revenue to EUR 18.1M for 2014, including revenue from associates
  • 14% decrease in EBITDA to EUR 11.3M for 2014, including EBITDA from associates

*Adjusted for Income from Associates

Positive trend in the production performance

  • More than 1/3 of the total expected annual net production has been already generated in Q1 2014
  • Actual wind production vs. estimates: +14% in Q1 2014
  • Actual solar production vs. estimates: + 1% in Q1 2014

Events occurred after 31 March 2014

  • At the Annual General Meeting held on 15 April 2014,Mrs. Michèle Bellon was elected as new member to the Board of Directors

 

Read the PDF File

6/2014: Referat af Generalforsamling

Der har dags dato været afholdt ordinær generalforsamling i Greentech Energy Systems A/S.
 
Generalforsamlingen tog bestyrelsens beretning om årets aktiviteter til efterretning og vedtog årsrapporten for 2013 samt den resultatdisponering, der var foreslået i regnskabet.
 

6/2014: Minutes Annual General Meeting

The Annual General Meeting of Greentech Energy Systems A/S was held today.

The shareholders at the General Meeting adopted the Board of Directors’ report on the activities, the Annual Report for 2013 and the distribution of the result for the year as proposed in the Financial Statements.

Read the announcement

 

5/2014: Månedlig opdatering for marts 2014

Vind

  • I marts 2014 var vindforholdene generelt temmeligt gunstige, og produktionen var lidt højere end forventet, mens år til dato-tallene var lavere end i samme periode af 2013.
  • Særligt var marts-produktionen fra den spanske vindpark 29% over forventningerne  takket være gunstige vindforhold. Produktionen i Italien og Danmark var på linje med forventet niveau, mens de polske og tyske møller producerede mindre end forventet på grund af lav vindhastighed.

 

 Sol

  • I marts 2014 var den samlede produktion fra solanlæggene 13% over forventningerne og 31% højere end i marts 2013 takket være højere solindstråling.
  • Solanlæggene oplevede en mærkbar produktionsstigning på henholdsvis 42% i Spanien og 29% i Italien sammenlignet med marts 2013.
  • År til dato-tallene er på linje med forventet niveau og lidt højere end i samme periode sidste år.

 

Læs meddelelse

5/2014: Monthly Update for March 2014

Wind

  • In March 2014, the overall wind conditions were quite favourable with a production slightly higher than expected, while year-to-date figures are fairly lower compared to the same period of 2013.
  • In particular, March production of the Spanish wind farm was 29% above expectations due to favourable wind conditions. The production in Italy and Denmark was in line with expected level while the Polish and German turbines delivered a production below estimated level being affected by low wind speed.

 

Solar

  • In March 2014, the combined solar production was 13% above expectations and 31% higher than in March 2013 due to higher irradiation.
  • In particular, Spanish and Italian plants registered an important production increase of 42% and 29% respectively compared to March 2013.
  • Year-to-date figures are in line with expected level and slightly higher than the year-earlier period.

 

Read the PDF file

Indkaldelse til generalforsamling 2014

I henhold til vedtægternes § 8 indkaldes herved til ordinær generalforsamling i Greentech Energy Systems A/S.
Generalforsamlingen afholdes tirsdag den 15. april 2014 kl. 15.00 på IDA Mødecenter, Kalvebod Brygge 31 – 33, 1780 Købehavn V.

 
Læs indkaldelse – PDF

Notice of Annual General Meeting 2014

Pursuant to article 8 of the articles of association, notice is hereby given that the Annual General Meeting of Greentech Energy Systems A/S
will be held on Tuesday, 15 April 2014 at 3.00 pm at IDA Conference Centre, Kalvebod Brygge 31 – 33, 1780 Copenhagen V, Denmark.

 Read the notice – PDF

Annual Report 2013

The results achieved by Greentech outperformed the expectations for 2013 announced in March 2013 on almost all parameters.

Highlights 2013:

    Net production  of 405.2 GWh compared to 361.2 GWh in 2012 = + 12%
    Revenue including revenue from Associates of EUR 75.3M compared to EUR 70.7M in 2012 = + 7%
    EBITDA including EBITDA from Associates of EUR 45.4M compared to EUR 38.6M in 2012 = + 18%
    EBITDA margin of 60% including Associates and of 62% including Associates and excluding Environment
    Environment Protection: Gross Production in 2013 was equivalent to the power consumption of 164,000 households,
    saved 673,000 barrels of oil and avoided the emission of 261,000 tons of CO2.

 

This year Greentech published the Annual Report 2013 in English.

 

Read the Annual Report

4/2014: Månedlig opdatering for februar 2014

Vind

  • I februar 2014 var vindforholdene generelt gunstige, og produktionen blev væsentligt højere end forventet.
  • Især vindparkerne i Tyskland (+42%), Italien (+10%) og Spanien (+15%) oplevede gode vindforhold med en produktion væsentligt over det forventede niveau. Produktionen fra de polske møller var lavere end budgetteret på grund af lav vindhastighed, mens de danske vindparker næsten nåede budgettet.
  • Nettoproduktionen viste en stigning på 9% sammenlignet med februar 2013, mens år til dato-tallene er på linje med 2013-niveauet.

 

Sol

  • I februar 2014 var produktionen i overensstemmelse med forventningerne.
  • Den gennemsnitlige solindstråling i Italien var højere end forventningerne med en stigning i produktionen på 7% sammenlignet med februar 2013, mens Spanien oplevede en lavere solindstråling end forventet.
  • År til dato-nettoproduktionen var lidt lavere end i samme periode i 2013.

 

Læs meddelelse

4/2014: Monthly Update for February 2014

Wind

  • In February 2014, the overall wind conditions were quite favourable, with a production significantly higher than expected.
  • In particular, the German (+42%), Italian (+10%) and Spanish (+15%) projects experienced good wind conditions, performing considerably above expected level. The Polish turbines delivered a production below estimated level being affected by low wind speed, while the Danish wind farms nearly reached the budget.
  • Net wind production showed an increase of 9% compared to February 2013, while year-to-date figures are in line with the 2013 level.

 

Solar

  • In February 2014, the solar production was in line with expectations.
  • The average irradiation in Italy was higher than expected, raising the solar production by 7% compared to February 2013, while Spain registered irradiation lower than estimated.
  • Year-to-date net solar production was slightly lower compared to the same period of 2013.

 

Read the PDF file

Selskabsmeddelelse nr. 3/2014: Delårsrapport – 4. kvartal 2013

Positiv økonomisk udvikling bekræftet

  • Resultat for 2013: overskud på MEUR 1,4
  • Stigning på 23% i omsætning for 2013 til MEUR 73,9
  • Stgning på 41% i EBITDA for 2013 til MEUR 44,6 
  • Stigning på 6,5% i omsætning for 2013 inkl. omsætning fra associerede virksomheder til MEUR 75,3
  • Stigning på 18% i EBITDA for 2013 inkl. EBITDA fra associerede virksomheder til MEUR 45,4.

 

Stabilitet i produktionsperformance trods lavere 4. kvartal

  • Samlet nettoproduktion i 4. kvartal 2013: 98 GWh – et fald på 3%
  • Samlet nettoproduktion i 2013: 405 GWh – en stigning på 12%

 

Stabile forventninger til 2014

  • Nettoproduktion: 390 – 400 GWh
  • Omsætning (inklusive associerede virksomheder): MEUR 71 – 76
  • EBITDA (inklusive associerede virksomheder): MEUR 39 – 41

 

Læs PDF fil

Company Announcement No. 3/2014: Interim Report – Q4 2013

Positive trend in financials confirmed

  • Year to date 2013 profit of EUR 1.4M
  • 23% increase in revenue to EUR 73.9M for 2013
  • 41% increase in EBITDA to EUR 44.6M
  • 6.5% increase in revenue to EUR 75.3M for 2013, including revenue from associates
  • 18% increase in EBITDA to EUR 45.4M for 2013, including EBITDA from associates

Stabilization in the production performance despite lower Q4

  • Total production generated in Q4 2013: 98 GWh (net) – down 3 %
  • Total production generated in 2013: 405 GWh (net) – up 12 %

Stable Outlook for 2014

  • Net production: 390 – 400 GWh
  • Revenue (including associates): EUR 71 – 76M
  • EBITDA (including associates): EUR 40 – 42M

 

Read the PDF file

2/2014: Månedlig opdatering for januar 2014

 Vind

  • Greentechs vindparker havde en rigtig god start på året. I januar 2014 var de særligt gode vindforhold i hele Europa årsag til en produktionsstigning på 27% i forhold til  forventningerne.
  • Især vindparkerne i Danmark og Polen producerede væsentligt over det budgetterede niveau med mærkbare stigninger på henholdsvis 57% og 73% i forhold til forventningerne.

 

Sol

  • I januar 2014 var produktionstallene for solanlæggene under forventningerne, da den gennemsnitlige solindstråling i både Italien og Spanien var væsentligt lavere end forventet niveau.

 

 

Læs meddelelse

2/2014: Monthly Update for January 2014

Wind

  • Greentech’s wind plants had an excellent beginning of the year. In January 2014, the extraordinary wind conditions across Europe brought the production 27% above expected level .
  • In particular, the Danish wind farms and the Polish plant performed significantly above budget, largely exceeding expectations: by 57% and 73% respectively.

 

 Solar

  • In January 2014, solar production figures were lower than estimated since the average irradiation in both Italy and Spain was considerably below expected level.

 

 

Read the announcement

1/2014: Monthly Update for December 2013

Wind
 

  • In December 2013, due to extremely favourable wind conditions across Northern Europe, the production from the German, Danish and Polish wind farms was significantly above expectations. The Italian and Spanish turbines delivered a production below the estimated level, being affected by low wind speeds.
  •  In 2013, the Greentech wind portfolio reached a total gross production of approx. 430 GWh, +14% compared to 2012. In particular, the Italian wind farms performed very well showing an increase of 26% compared to 2012.

 

Solar
 

  • In December 2013, the solar irradiation in Italy and Spain was higher than expected, raising the solar production with + 13% compared to December 2012.
  •  In 2013, the solar portfolio generated a gross production of 64 GWh, in line with 2012.
  •  In December 2013, Greentech completed the acquisition of a 0.70 MW solar plant, Alessano Strutture, located in Apulia, Italy. Consequently, Greentech’ solar gross installed capacity has reached 43 MW.

 

Overall, in 2013, Greentech has outperformed the outlook of production mainly due to extraordinary favourable wind conditions in Southern Europe.

 

Read the announcement

 

1/2014: Månedlig opdatering for december 2013

Vind
 

  • I december 2013, grundet særligt gode vindforhold i hele Nordeuropa, var produktionen fra de tyske, danske og polske vindparker væsentligt højere end forventningerne.  De italienske og spanske vindmøller producerede mindre end forventet på grund af ringe vindforhold.
  •  I 2013 nåede Greentechs vindportefølje en samlet bruttoproduktion på ca. 430 GWh, 14% højere end i 2012. Især de italienske vindparker viste rigtig god performance med en stigning på 26% i forhold til 2012.

 
Sol
 

  • I december 2013 var solindstrålingen i Italien og i Spanien højere end forventet, og produktionen lå 13% over budgettet.
  •  I 2013 producerede solporteføljen 64 GWh (brutto), hvilket var på niveau med produktionen i 2012.
  •  I december 2013 gennemførte Greentech køb af et solanlæg, Alessano Strutture, på 0,70 MW,  beliggende i Apulien, Italien. Med erhvervelsen af projektet udgør Greentechs installerede solproduktionskapacitet 43 MW (brutto).

 

Generelt har Greentech i 2013 opnået en højere produktion end udmeldt i forventningerne, primært takket være de ekstraordinært gode vindforhold i Sydeuropa.

 

Læs meddelelse

 

 

23/2013: Månedlig opdatering for november 2013

Vind

  • I november 2013 var vindproduktionen 18% over budgetteret niveau og 44% højere end i november 2012.
  • De spanske og italienske vindparker, især på Sardinien, oplevede ganske gode vindforhold og producerede væsentligt mere end forventet. 
  • Grundet de vedvarende dårlige vindforhold i Nordeuropa var produktionen fra de tyske og danske vindparker under forventet niveau, mens de polske møller næsten nåede budgettet.
  • Samlet viser år til dato-produktionen i 2013 en stigning på 21% sammenlignet med samme periode i 2012.

 

Sol

  • I november 2013 producerede solanlæggene lidt mindre end budgettet, men 15% mere end i november 2012.
  • De italienske solanlæg oplevede dårlige vejrforhold med lav gennemsnitlig solindstråling, mens Spanien oplevede en temmelig god solindstråling.
  • År til dato-tallene for solanlæggene er i overensstemmelse med forventningerne og på niveau med den tilsvarende periode i 2012.

 

Læs meddelelse

23/2013: Monthly update for November 2013

Wind

  • In November 2013, wind production was 18% above budget and 44% higher than in November 2012.
  • The Spanish and Italian wind farms, especially in Sardinia, experienced quite favourable wind conditions, with a production significantly above budget.
  • Due to the poor wind conditions persisting in Northern Europe, the production from the German and Danish wind farms was below expectations, while the Polish nearly reached the budget.
  • Total 2013 year-to-date production shows an increase of 21% compared to the same period in 2012.

 
Solar

  • In November 2013, the solar plants generated a production slightly lower than budget but 15% higher compared to November 2012.
  • Italian plants experienced bad weather conditions with poor average solar irradiation, while Spain registered rather good irradiation.
  • Year-to-date performance of the solar plants is in line with expectations and very similar to the one from the same period in 2012.

 

Read the announcement

Peak shaving

Peak hours is the timeframe of the day where electricity demand is greatest. The peak hours in the electricity consumption usually occurs during the central part of the daytime, when one kWh of energy can reach costs up to 90% more than energy sell between midnight and 8:00 a.m.

The solar PV boom experienced in many countries is showing how solar energy production can contributes to the shaving of peak electricity prices.

During the day in fact, high solar production supplies big quantities of energy at zero cost, eroding   the energy demand from conventional sources and therefore shaving the energy peak price .

22/2013: Månedlig opdatering for oktober 2013

Vind

  • I oktober 2013 var produktionen fra Greentechs vindmølleparker 12% over forventningerne.
  • Produktionsstigningen skyldes de gode vindforhold i Italien og i Spanien, som resulterede i en produktion henholdsvis 26% og 11% over forventet niveau. Især de italienske vindmølleparker Minerva Messina og Monte Grighine oplevede ekstraordinært gode vindforhold: +63% og +27% over budgettet. Produktionen i Tyskland, Danmark og Polen var væsentligt lavere end forventningerne på grund af meget ringe vindforhold i hele Nordeuropa.
  • Vindmølleparkernes år til dato-produktion er 19% højere sammenlignet med samme periode i 2012. 

Sol

  • Produktionen fra solanlæggene var i oktober 2013 lidt under forventet niveau grundet varierende solindstråling i både Italien og Spanien.
  • År til dato-produktionstallene er på linje med forventningerne og med samme periode i 2012.

 

Læs meddelelse

 

22/2013: Monthly update for October 2013

Wind

  • In October 2013, Greentech’s wind assets performed 12% above expectations.
  • The increase in production is related to favourable wind conditions in Italy and Spain bringing production to respectively 26% and 11% above the expected level. In particular, the Italian wind farms Minerva Messina and Monte Grighine experienced extraordinary good wind conditions: +63% and +27%.The production from Germany, Denmark and Poland was considerably below expectations due to extremely poor wind conditions across Northern Europe
  • The year-to-date total wind production is 19% higher compared to the same period of 2012.

Solar

  • The production from the solar plants in October 2013 was slightly below expected level due to variable irradiation both in Italy and Spain.
  • Year-to date figures are in line with estimates and with the same period of 2012.

 

Read the announcement

Selskabsmeddelelse nr. 21/2013: Delårsrapport for Q3 2013

Fortsat positiv økonomisk tendens trods svagere kvartal

  • Resultat for de første 9 måneder af 2013: overskud på MEUR 2,6
  • Stigning på 12% i omsætning for 1. – 3. kvartal 2013 inkl. omsætning fra associerede virksomheder til MEUR 58,3
  • Stigning på 23% i EBITDA for 1. – 3. kvartal 2013 inkl. EBITDA fra associerede virksomheder til MEUR 35,2.

Fortsat positiv produktionsudvikling trods gennemsnitlig solindstråling

  • Samlet nettoproduktion i 3. kvartal 2013: 70 GWh – et fald på 5%
  • Samlet nettoproduktion i 1. – 3. kvartal 2013: 307 GWh – en stigning på 18%
  • Faktisk vindproduktion vs. forventninger: +4%
  • Faktisk solproduktion vs. forventninger: -1%

Forventningerne til helåret fastholdes

  • Nettoproduktion: 390 – 400 GWh
  • Omsætning (inklusive associerede virksomheder): MEUR 76 – 82
  • EBITDA (inklusive associerede virksomheder): MEUR 39,1 – 41,5

 

Læs PDF fil

21/2013: Interim Report – Q3 2013

Positive trend in financials confirmed despite lower quarter

  • Year to date 2013 profit of EUR 2.6M
  • 12% increase in revenue to EUR 58.3M for Q1-Q3 2013, including revenue from associates
  • 23% increase in EBITDA to EUR 35.2M for Q1-Q3 2013, including EBITDA from associates

Positive production trend confirmed despite average irradiation

  • Total production generated in Q3 2013: 70 GWh (net) – down 5 %
  • Total production generated in Q1-Q3 2013: 307 GWh (net) – up 18 %
  • Actual wind production vs. estimates: +4 %
  • Actual solar production vs. estimates: -1 %

Full-year 2013 expectations maintained

  • Net production: 390 – 400 GWh
  • Revenue (including associates): EUR 76 – 82M
  • EBITDA (including associates): EUR 39.1 – 41.5M

 

Read the PDF file

Test MP

test

20/2013: Monthly update for September 2013

Wind

  • The production from the Italian turbines nearly reached the budget mainly due to Monte Grighine contribution (+20%).
  • Due to overall bad wind conditions, the production from all the other countries was signifi-cantly lower than expected.
  • The year-to-date overall performance of the wind farms is still above expected level and significantly higher than last year (+21%).

Solar

  • The average irradiation in Italy was in line with the expected level, while Spain experienced low irradiation due to rain level significantly above the normal for the period.
  • The solar production in September 2013 for the Italian and Spanish projects was in line with expectations.

 

Read the announcement

20/2013: Månedlig opdatering for september 2013

Vind

  • Produktionen fra de italienske møller var næsten på budgetteret niveau, hovedsageligt takket være bidraget fra Monte Grighine-parken (+20%)
  • Grundet generelt dårlige vindforhold var produktionen i alle andre lande væsentligt lavere end forventet
  • Vindmølleparkernes år til dato-produktion er fortsat over forventet niveau og væsentligt højere end sidste år (+21%)

 

Sol

  • Den gennemsnitlige solindstråling i Italien var i overensstemmelse med forventningerne, mens Spanien oplevede lav solindstråling på grund af en væsentligt større regnmængde end normalt for årstiden
  • I september 2013 var solproduktionen fra de italienske og spanske projekter i overensstemmelse med forventningerne

 

Læs meddelelse

 

Prova di pagina

[cf]bloomberg[/cf]

19/2013: Maanedlig opdatering for august 2013

Vind

  • Vindmølleparkerne i alle landene producerede under forventningerne i august 2013 på grund af ringe vindforhold i Europa.
  • Især Parkerne i Danmark og Italien bidrog til at bringe månedens samlede produktion 8% over niveauet i august 2012.
  • År til dato-tallene er fortsat over forventningerne (+ 6%) og viser en stigning på 26% i forhold til 2012.

Sol

  • I august 2013 var produktionen fra solanlæggene 4% lavere end forventet og på linje med produktionsniveauet i august 2012.
  • Den gennemsnitlige solindstråling i Italien og Spanien var i overensstemmelse med forventningerne, men de italienske solanlæg var udsat for voldsom regn, som forårsagede ustabilitet og lav availability i slutningen af august.
  • De samlede år til dato-tal er næsten på forventet niveau.

 

Læs meddelelse

19/2013: Monthly update for August 2013

 

Wind

  • Wind farms in all countries delivered a production below budget in August 2013, being affected by poor wind conditions prevailing in Europe.
  • In particular Denmark and Italy contributed in bringing the combined monthly production 8% higher compared to 2012 level.
  • Year-to-date figures are still ahead of expectations (+6%) and show an increase of 26% compared to 2012.

 

 Solar

  • In August 2013, solar production was 4% lower than budget and on a par with the production level of August 2012.
  • The average irradiation in Italy and Spain was in line with expectations, but the Italian plants were exposed to heavy rain causing instability and poor availability at the end of August.
  • The combined year-to-date figures are almost in line with expectations.

 

Read the announcement

 

18/2013: Maanedlig opdatering for juli 2013

Vind

  •  I juli var vindproduktionen påvirket af ringe vejrforhold i Europa, som medførte en perfor-mance 31% under budgettet, hvor alle lande, især Italien og Tyskland, præsterede under forventet niveau.
  •  På trods af et fald i produktionen generelt i forhold til juli 2012 opnåede Danmark og især Polen en månedlig produktion over niveauet i 2012.
  •  År til dato-nettoproduktionen er fortsat foran budgettet (+10%) på grund af de spanske og primært de italienske anlægs bidrag. År til dato-tallene viser samlet en stigning på 28% sammenlignet med niveauet for 2012.

Sol

  •  I juli 2013 var produktionen fra solanlæggene 2% over budgettet med en gennemsnitlig solindstråling, som var på linje med forventningerne i både Italien og Spanien.
  •  Månedsproduktionen viste en stigning på 7% sammenlignet med 2012, og de samlede år til dato-tal er på budgetteret niveau.

 

Læs meddelelse

18/2013: Monthly update for July 2013

 

Wind

  • In July, wind production was affected by poor weather conditions across Europe leading to a performance 31% below budget, with all countries, especially Italy and Germany, below expected level.  
  • Despite a general decrease in production compared to July 2012, Denmark and particularly Poland delivered monthly production above the 2012 level.
  • Year-to-date net production figures remain ahead of budget (+10%) thanks to the perform-ance of the Spanish and particularly of the Italian assets. In total, year-to-date figures show an increase of 28% compared to the 2012 level.

 

Solar

  • In July, solar production was 2 % ahead of budget with an average irradiation in line with expectations in both Italy and Spain.  
  • The monthly production showed an increase of 7% compared to July 2012, and the combined year-to-date figures are in line with budget. 

 

Read the announcement

 

17/2013: Interim Report – H1 2013

 

Positive trend in financials continues with significant profit improvement

  • H1 2013 profit of EUR 4.7M
  • 19% increase in revenue to EUR 42.5M for H1 2013, including revenue from associates
  • 33% increase in EBITDA to EUR 27.6M for H1 2013, including EBITDA from associates

 

Read the announcement

 

17/2013: Delårsrapport for 1. halvår 2013

Positiv økonomisk tendens fortsætter med markant resultatfremgang

  • Resultat for 1. halvår 2013: overskud på MEUR 4,7
  • Stigning på 19% i omsætning for 1. halvår 2013 inkl. omsætning fra associerede virksomheder til MEUR 42,5
  • Stigning på 33% i EBITDA for 1. halvår 2013 inkl. EBITDA fra associerede virksomheder til MEUR 27,6

 

Læs meddelelse

 

Annual Report and Presentations

A leading green player generating and distributing renewable energy preserving the environment and contributing to a world sustainable growth.
GT_Pulsante_Sito_Results Presentation
Interim Report HY 2017 FY 2016 Presentation

16/2013: Månedlig opdatering for juni 2013

Vind
  • Vindproduktionen i juni bekræfter den generelt positive tendens i 2013.
  • Den samlede vindproduktion i juni 2013 var 13% over budgettet med gode vindforhold i Italien, særligt på Sardinien. Produktionen i Tyskland, Danmark, Spanien og især Polen var under forventet niveau, primært på grund af ringe vindforhold.
  • Nettovindproduktionen viste en stigning på 33% sammenlignet med juni 2012. År til dato-produktionen er steget med 34% sammenlignet med niveauet for 2012.
Sol
  • I juni 2013 var den samlede produktion fra solanlæggene 4% over budgettet.
  • Den gennemsnitlige solindstråling i Italien var i overensstemmelse med forventningerne, mens Spanien fortsat oplevede en lavere solindstråling end forventet.
  • Solproduktionen viste en stigning sammenlignet med juni 2012. År til dato-tallene er omtrent på budgetteret niveau.

Læs meddelelse – PDF

16/2013: Monthly update for June 2013

 
Wind
  • The June wind production confirms the general positive trend experienced during 2013.
  • The total wind production in June 2013 was 13 % above budget with favourable wind conditions in Italy, particularly in Sardinia.  Production from Germany, Denmark, Spain and especially Poland was below expected level, primarily due to poor wind conditions.
  • Net wind production showed an increase of 33% compared to June 2012. Year-to-date figures have increased by 34% compared to the 2012 level.

 

Solar
  • In June 2013, the total production from the solar plants was 4% above budget.
  • The average irradiation in Italy was in line with expectations, while Spain still experienced irradiation lower than forecasted.
  • Solar production showed an increase compared to June 2012. The combined year-to-date figures are almost in line with budget

 

Read the announcement

 

15/2013: Månedlig opdatering for maj 2013 Vind

Vind

  • Vindproduktionen i maj 2013 var 16% over budgettet primært grundet fortsat gode vindforhold i Spanien og Italien, hvor især Minerva Messina producerede langt over forventet niveau. Også den sydlige del af Tyskland oplevede gode vindforhold, mens den nordlige del af Europa stadig var påvirket af ringe vindforhold.
  • Nettovindproduktionen viste en stigning på 29% sammenlignet med maj 2012. År til dato-produktionen er steget med 33% sammenlignet med niveauet for 2012.
Sol
  • I maj 2013 var produktionen fra solanlæggene omtrent på budgetteret niveau.
  • Den gennemsnitlige solindstråling i Italien var i overensstemmelse med forventningerne med regionale udsving, mens Spanien fortsat oplevede en lavere solindstråling end forventet.
  • År til dato-tallene er stadig en anelse lavere end forventet.

Læs meddelelse – PDF

15/2013: Monthly update for May 2013

 
Wind
  • The wind production in May 2013 was 16 % above budget primarily due to continuing favourable wind conditions in Spain and Italy, where particularly Minerva Messina performed significantly above expected level. Also the southern part of Germany experienced good wind conditions, while the northern part of Europe was still affected by poor wind conditions.
  • Net wind production showed an increase of 29% compared to May 2012. Year-to-date figures have increased by 33% compared to the 2012 level.
 
Solar
  • In May 2013, the production from the solar plants was almost in line with budget.
  • The average irradiation in Italy was in line with expectations subject to regional variations, while Spain still registered irradiation lower than expected.
  • The year-to-date figures are still slightly lower than expected.

Market trend

For almost a decade, growth in the renewable energy industry looked unstoppable. Over the last 10 years, 430,000 MW of renewable energy capacity have been installed, with total global investments reaching a record of $ 257 billion in 2011, a year in which renewable energy became a trillion-dollar industry. However, the economic crisis in 2008/2009 and its continuing repercussions have slowed growth and dampened demand. In late 2011, the crisis affecting the euro area and its sovereign debt had an impact on the supply of debt for renewable energy projects in Europe. While the cost of the technology was falling rapidly due to increased competition, governments were not able to adjust feedin tariff subsidies for solar power quickly enough to face the rapid reductions. These cost reductions, which were not adequately countered by a corresponding decrease in feed-in tariffs, gave rise to a distortion of the market, where the margin returns for PV project developers were considerably higher than intended, generating a boom in installation, especially in Italy and Germany, where more than 7GW were installed in 2011. Inevitably, governments in Europe and elsewhere have responded by cutting subsidies sharply. However, while it may be true that competitive pressures, especially in the solar PV and wind markets, have driven down prices and cut margins to the point where several manufacturers are struggling to survive, the fall in prices also yielded some positive consequences. Prices for solar PV fell more than 60% between 2010 and 2012, and wind turbine prices have also decreased substantially. Cost reductions in the last two years have deeply changed the renewable energy scenario, especially in wind and solar PV sector. Overall, PV module prices at the beginning of 2012 were nearly 50% lower than the year–earlier level, and some 76% below their level in the summer of 2008, falling another 24% over the course of 2012. According to Bloomberg New Energy Finance, in 2011, turbine prices for delivery scheduled in the second half of 2013 were averaging around EUR 910K per MW, (as opposed to $1.265** K per MW at the average euro/dollar exchange rate last year). Compared to a peak of EUR 1.210K per MW for devices delivered in the first half of 2009, there has been a price reduction of 25%. The improving technology and the significant cost savings have made some technologies already competitive in several regions and the Promised Land where grid parity will be a reality seems just around the corner. Although global investment in clean energy declined 11% in 2012, accounting for $268.7bn, down from a revised figure of $302.3bn in 2011, 2012 was still the second highest ever in terms of global investment in the sector. The decline was due to regulatory uncertainty and policy changes in big markets such as Spain, Italy, USA and India. At a European level, Italian investment experienced a 51% decline (totaling $14.7bn) due to policy changes that curbed the country solar PV boom. Spain also showed a 68% decrease (totaling just t $3bn) following the Spanish government’s moratorium on subsidies for projects not yet approved. 2012 also marked a new and significant market trend : investments are broadening rapidly from the established European, American and Chinese markets to the new ones, mostly in developing countries, such as Latin America, Africa, the Middle East, Asia but also Australia. The shift from developed to developing countries is combined with the emergence of a new business model that is no longer based on the feed-in tariffs mechanism, but rather on public auction systems.

CO2

The European Union Emissions Trading System (EU ETS), was the first large emissions trading scheme in the world, and remains the biggest. It was launched in 2005 to combat climate change and is a major pillar of EU climate policy. Under the ‘cap and trade’ principle, a cap is set on the total amount of greenhouse gases that can be emitted by all participating installations. ‘Allowances’ for emissions are then auctioned off or allocated for free, and can subsequently be traded. Installations must monitor and report their CO2 emissions, ensuring they hand in enough allowances to the authorities to cover their emissions. If emission exceeds what is permitted by its allowances, an installation must purchase allowances from others. Conversely, if an installation has performed well at reducing its emissions, it can sell its leftover credits. This allows the system to find the most cost-effective ways of reducing emissions without significant government intervention.

The price of allowances increased more or less steadily to a peak level in April 2006 of about €30 per tonne CO2. In late April 2005, a number of EU countries (the Netherlands, the Czech Republic, Belgium, France, and Spain) announced that their verified emissions were less than the number of allowances allocated to installations. The spot price for EU allowances dropped 54% from €29.20 to €13.35 in the last week of April 2005. In May 2006, prices fell to under €10/tonne. Lack of scarcity under the first phase of the scheme continued through 2006 resulting in a trading price of €1.2 per tonne in March 2007, declining to €0.10 in September 2007. In 2007, carbon prices dropped to near zero for most of the year because the market participants became aware that aggregate emissions were well below the number of allowances issued. The price drop dramatically weakened the incentive to continue reducing emissions.

The carbon price within Phase II increased to over €20/tCO2 in the first half of 2008 (CCC, 2008, p. 149). The average price was €22/tCO2 in the second half of 2008, and €13/tCO2 in the first half of 2009.

The 2012 closing price for an EU allowance with a December 2013 contract ended the year at 6.67 € a metric tons. In late January 2013, the EU allowance price fell to a new record low of 2.81€ after the energy and industry committee of the European parliament opposed a proposal to withhold 900 million future-dated allowances from the market.

Lower public auction

Lower public auction is a process by which an entity, generally the government, announces that it wants to purchase a certain amount of a product or service — in this case electricity from renewable sources — and solicits competitive bids so as to acquire it at the lowest cost — as regards renewables this is generally in dollars per Megawatt hour (MWh). This is generally accompanied by a requirement to purchase the electricity, and the difference is often centrally subsidized. Many Countries are now addressing this kind of policies in order to provide a support to renewable energy, with the aim to avoid a non controllable public expenses caused by a boom of installations generated by an appealing fixed tariff. Among others, South Africa is implementing this system for the construction of PV plants, as well as Brazil, where in 2011, reverse auction for new power generation capacity bids for 9.1 GW of wind power came in at $ 62/MWh, less expensive than conventional power alternatives, and than wind offering anywhere in the world. This made wind power the second cheapest energy source in Brazil. In 2012 this price dropped to € 35/MWh, way lower than the wholesale electricity price. The auction system is able to grant a significant cutting of renewable energy technology prices. On the other hand it implicates a consistent reduction of the profits.

Grid parity

Grid parity occurs when an alternative energy source can generate electricity at a levelized cost (LCoE) that is less than or equal to the price of purchasing power from the electricity grid. Reaching grid parity is considered to be the point at which an energy source becomes a contender for widespread development without subsidies or government support. It is widely believed that a wholesale shift in generation to these forms of energy will take place when they reach grid parity.

Reverse acquisition

A reverse takeover or reverse merger (reverse IPO) is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. The transaction typically requires reorganization of capitalization of the acquiring company. In a reverse takeover, shareholders of the private company purchase control of the public shell company and then merge it with the private company. The publicly traded corporation is called a “shell” since all that exists of the original company is its organizational structure. The private company shareholders receive a substantial majority of the shares of the public company and control of its board of directors. In August 2011, through a reverse takeover Greentech Energy Systems and the Italian GWM RE were merged.

Imbalance costs

An imbalance for electricity production units is the difference between the injection program defined on the energy markets and the actual energy injected into the grid during the physical delivery. In Italy, in July 2012 the approved Resolution 281/12 has for the first time established that the payment of imbalance costs for intermittent energy sources has to be paid by the producers of renewable energy instead of the end consumers.

Full load hour

Production for a full load hour means output corresponding to one hour of production at the wind turbine’s installed capacity. The calculation is based on the power output settled. Output in the year in which the wind turbine is connected to the grid for the first time is calculated on a proportional basis to the effect that one month of output is considered to be one-twelfth of one year’s output.

Green certificates

A Green Certificate, also known as Renewable Energy Certificates (RECs) in the USA, are a tradable commodity proving that certain electricity is generated using renewable energy sources. The GC support scheme is based on the legislation which requires producers and importers of non-renewable electricity to inject a minimum quota of renewable electricity into the power system every year. GCs represent proof of compliance with the renewable quota obligation: each GC is conventionally worth 1 MWh of renewable electricity. Green certificates represent therefore the environmental value of renewable energy generated.

Feed in tariff

A feed-in tariff is a policy mechanism designed to accelerate investment in renewable energy technologies. It achieves this by offering long-term contracts to renewable energy producers, typically based on the cost of generation of each technology. Technologies such as wind power, for instance, are awarded a lower per-kWh price, while technologies such as solar PV and tidal power are offered a higher price, reflecting higher costs. In addition, feed-in tariffs often include “tariff degression”, a mechanism according to which the price (or tariff) ratchets down over time. This is done in order to track and encourage technological cost reductions. The goal of feed-in tariffs is to offer cost-based compensation to renewable energy producers, providing the price certainty and long-term contracts that help finance renewable energy investments.

13/2013: Delårsrapport – 1. kvartal 2013

Positiv økonomisk tendens i 1. kvartal 2013
- Stigning på 22% i omsætning for 1. kvartal 2013 inkl. omsætning fra associerede virksomheder til MEUR 20,5
- Stigning på 59% i EBITDA for 1. kvartal 2013 til MEUR 12,9
- Stigning på 27% i EBITDA for 1. kvartal 2013 inkl. EBITDA fra associerede virksomheder til MEUR 13,1
- Resultat for 1. kvartal 2013: overskud på MEUR 2,1

14/2013: Månedlig opdatering for april 2013

Vind
- Vindproduktionen i april 2013 var i overensstemmelse med budgettet med vindforhold over forventet niveau i Italien og i Tyskland, mens den spanske vindpark leverede en produktion markant under forventet niveau.
- Vindproduktionen i april 2013 viser et fald sammenlignet med april 2012, hvor produktionen imidlertid var væsentligt højere end sædvanligt.
- År til dato-produktionen er stadig væsentligt over budgettet.
 
Sol
- I april 2013 var produktionen fra solanlæggene en anelse lavere end forventet, men højere end i april 2012.
- De italienske anlæg oplevede gode vejrforhold med en højere gennemsnitlig solindstråling end forventet, mens Spanien oplevede lav solindstråling.
- År til dato-tallene er stadig en anelse lavere end forventet.

14/2013: Monthly update for April 2013

 
Wind
  • The wind production in April 2013 was in line with budget with wind conditions above expectations in Italy and Germany while the Spanish wind farm delivered a production significantly lower than the estimated level.
  • The April 2013 wind production shows a decrease compared to April 2012 where production was, however, considerably above normal.
  • The year-to-date wind production is still significantly above budget.

 

Solar
  • In April 2013, the production from the solar plants was slightly below expected level, but higher than in April 2012.
  • Italian plants experienced good weather conditions with average irradiation higher than expected, while Spain registered low irradiation.
  • The year-to-date figures are still slightly lower than expected.
 
 

13/2013: Interim Financial Report – First Quarter 2013

 
Positive trend in financials for Q1 2013
  • 22% increase in revenue to EUR 20.5M for Q1 2013, including revenue from associates
  • 59% increase in EBITDA for Q1 2013 to EUR 12.9M
  • 27% increase in EBITDA to EUR 13.1M for Q1 2013, including EBITDA from associates
  • Q1 2013 profit of EUR 2.1M

 

Read the announcement

 

Certificato verde

Certificato verde

Certificato verde

Un certificato verde è una forma di incentivazione di energia elettrica da fonti rinnovabili. Si tratta in pratica di titoli negoziabili, il cui utilizzo è diffuso in molti stati come ad esempio nei Paesi Bassi, Svezia, UK e alcuni stati USA.

Descrizione

Si tratta di certificati che corrispondono ad una certa quantità di emissioni di CO2: se un impianto produce energia emettendo meno CO2 di quanto avrebbe fatto un impianto alimentato con fonti fossili (petrolio, gas naturale, carbone ecc.) perché “da fonti rinnovabili”, il gestore ottiene dei certificati verdi che può rivendere (a prezzi di mercato) a industrie o attività che sono obbligate a produrre una quota di energia mediante fonti rinnovabili, ma non lo fanno o non possono farlo autonomamente.

In Italia i certificati verdi sono emessi dal Gestore dei Servizi Energetici (GSE) su richiesta dei produttori di energia da fonti rinnovabili.

I Certificati Verdi sono introdotti dal decreto di liberalizzazione del settore elettrico noto come Decreto Bersani. Il decreto di attuazione della direttiva 96/92/CE [1] stabilisce che i produttori possano richiedere i certificati verdi per 8 anni (per impianti entrati in servizio o revisionati dopo l’aprile del 1999) e per 15 anni per impianti successivi al 31/12/2007 (norma in finanziaria 2008). I certificati verdi permettono alle imprese che producono energia da fonti convenzionali (petrolio, carbone, metano, eccetera) di rispettare la legge che obbliga ogni produttore o importatore di energia a usare fonti rinnovabili per il 2%.

L’impresa produttrice di energia acquista, presso la borsa gestita da GSE, i certificati verdi che le occorrono per raggiungere la soglia del 2% della propria produzione. La quota del 2% si incrementa ogni anno, dal 2004, di 0,35% punti percentuali. I certificati verdi possono essere accumulati e venduti successivamente, ad esempio quando il valore sia cresciuto a seguito della domanda di mercato. Nel 2005 il valore è stato fissato dal mercato a 108,92 €/MWh al netto dell’IVA per 86.136 certificati verdi emessi per complessivi 4.308 GWh. Al 2006 con gli impianti certificati come fonti rinnovabili producevano 3.212 GWh di energia idroelettrica (35%), 2.440 GWh eolica (27%), 1.297 GWh con biomasse (14%), 943 GWh geotermica (10%), 745 GWh biogas (8%), 521 GWh con i rifiuti (6%) e 2,7 GWh solare [2].

Il prezzo dei certificati verdi è stato pari a circa 125 €/MWh nel 2006, valore a cui va aggiunto il prezzo di cessione dell’energia elettrica sul mercato (oltre 70 €/MWh), per un totale di circa 200 €/MWh. Dal 2009 il prezzo del certificato sommato a quello dell’energia elettrica ceduta sul mercato sarà al massimo 180 €/MWh.

12/2013: Referat af Generalforsamling

Der har dags dato været afholdt ordinær generalforsamling i Greentech Energy Systems A/S.
Generalforsamlingen vedtog bestyrelsens beretning om årets aktiviteter, årsrapporten for 2012 samt den resultatdisponering, der var foreslået i regnskabet.

12/2013: Minutes Annual General Meeting

 
The Annual General Meeting of Greentech Energy Systems A/S was held today.
 
The shareholders at the General Meeting adopted the Board of Directors’ report on the activities, the Annual Report for 2012 and the distribution of the result for the year as proposed in the Financial Statements.
 

Read the announcement

 

11/2013: Månedlig opdatering for marts 2013

Vind
  •  De italienske vindmølleparkers produktion var i marts 2013 ca. 50% over forventningerne grundet ekstraordinært gode vindforhold på Sardinien og vindforhold over gennemsnittet på Sicilien. Også produktionen i Spanien, Tyskland og Polen var over forventet niveau.
  •  Den samlede vindproduktion i marts 2013 var 28% over forventet niveau og viste en stigning på over 90% sammenlignet med marts 2012.
  •  Grundet den positive udvikling i vindforholdene i 1. kvartal 2013 er år til dato-produktionen 20% over forventningerne.
Sol
  •  I marts 2013 var produktionen fra solprojekterne under forventet niveau på grund af lav solindstråling i både Italien og Spanien. Derfor er år til dato-tallene en anelse lavere end forventet.

Læs meddelelse – PDF

11/2013 Monthly Update for March 2013

 
Wind
  • In March 2013, the production of Italian wind farms was approximately 50% above expectations due to extraordinarily favorable wind conditions in Sardinia and wind conditions above average in Sicily. Also the production in Spain, Germany and Poland was above estimated levels.
  • The total production generated in March 2013 is 28% above estimated level and shows an increase of over 90% compared to March 2012.
  • Due to the positive trend in wind conditions in Q1 2013, the year-to-date production is 20% above expectations.
 
Solar
  • In March 2013, the production from the solar plants was below expected level due to low irradiation both in Italy and Spain. Consequently, the year-to-date figures are slightly lower than expected.

 

Read the announcement

10/2013: Præcisering vedrørende beskrivelse af Foresight-gruppens aktiviteter

Præcisering vedrørende beskrivelse af Foresight-gruppens aktiviteter i Greentech Energy Systems A/S’ selskabsmeddelelse nr. 6/2013

 

10/2013: Clarification on the description of Foresight Group

Clarification on the description of Foresight Group in connection with Greentech Energy Systems A/S’ Company Announcement No 6/2013

Indkaldelse til generalforsamling 2013

I henhold til vedtægternes § 8 indkaldes herved til ordinær generalforsamling i Greentech Energy Systems A/S.
Generalforsamlingen afholdes torsdag den 18. april 2013 kl. 15.00 på IDA Mødecenter, Kalvebod Brygge 31 – 33, 1780 Købehavn V.

Notice of Annual General Meeting 2013

Pursuant to article 8 of the articles of association, notice is hereby given that the Annual General Meeting of Greentech Energy Systems A/S will be held on Thursday, 18 April 2013 at 3.00 pm at IDA Conference Centre, Kalvebod Brygge 31 – 33, 1780 Copenhagen V, Denmark.

9/2013: Indberetning af transaktioner med Greentech Energy Systems A/S’ aktier

Indberetning af ledende medarbejderes og disses nærtståendes transaktioner med Greentech Energy Systems A/S’ aktier og tilknyttede værdipapirer
 
 

9/2013: Notification of transactions in Greentech Energy Systems A/S’ shares

Notification of transactions in Greentech Energy Systems A/S’ shares and other securities linked to such shares, carried out by executive employees and close relations of executive employees.

Read the announcement – PDF

8/2013: Greentech Energy Systems A/S offentliggør sin årsrapport for 2012

Greentech Energy Systems A/S offentliggør sin årsrapport for 2012
HOVEDPUNKTER
+ 24% Bruttoproduktionen steg til 444,2 GWh sammenlignet med 358,1 GWh i 2011
+ 25 % Omsætning* steg til MEUR 70,7 sammenlignet med MEUR 56,5 i 2011
+ 48 % EBITDA* steg til MEUR 38,6 sammenlignet med MEUR 26 i 2011
2012-underskud før skat på MEUR 7,5 (underskud før skat på MEUR 4,0 justeret for engangsomkostninger).
*2011 er Pro-forma konsoliderede tal. Tallene for omsætning og EBITDA er inklusive ass. virksomheder. EBITDA er justeret for engangsomkostninger
FORVENTNINGER TIL 2013
· Nettoproduktion: 390 – 400 GWh
· Omsætning (inkl. ass. virksomheder): MEUR 76 – 82
· EBITDA (inkl. ass. virksomheder): MEUR 39,1 – 41,5

8/2013: Greentech Energy Systems A/S publishes its Annual Report for 2012

Greentech Energy Systems A/S publishes its Annual Report for 2012
HIGHLIGHTS
· + 24% Gross production of 444.2 GWh compared to 358.1 GWh in 2011
· + 25% Revenue* of EUR 70.7M compared to EUR 56.5M in 2011
· + 48% EBITDA* of EUR 38.6M compared to EUR 26M in 2011
· 2012 loss before tax of EUR 7.5M (loss before tax of EUR 4.0M, adjusted for non-recurring costs)
* 2011 are Pro-forma consolidated numbers. Figures for Revenue and EBITDA include Associates. EBITDA is adjusted for non-recurring costs.
OUTLOOK FOR 2013
· Net production: 390 – 400 GWh
· Revenues (incl. associates): EUR 76 – 82M
· EBITDA (incl. associates): EUR 39.1 – 41.5M

7/2013: Månedlig opdatering for februar 2013 Vind

Ekstraordinært gode vindforhold i februar 2013 sikrede en produktion fra de 3 sardinske vindmølleparker og fra det spanske Conesa-projekt væsentlig over forventningerne. Produktionen i Tyskland, Danmark og Polen var derimod betydeligt lavere end forventet grundet meget ringe vindforhold i Nordeuropa og sammenlignet med 2012.
  • Den samlede år til dato-vindproduktion for 2013 var 16% højere end budgettet. Den samlede produktion i februar 2013 var 23% højere end i februar 2012.
Sol
  • I februar 2013 leverede solprojekterne i både Italien og Spanien en produktion over forventet niveau (+9%). År til dato-tallene ligger over forventningerne, selvom produktionen er lavere end i samme periode i 2012.

Læs meddelelse – PDF

7/2013: Monthly Update For February 2013

Wind
Due to extraordinary favorable wind conditions in February 2013, the 3 Sardinian wind farms and the Spanish Conesa project generated production significantly above expected levels. The production from Germany, Denmark and Poland, however, was considerably below expectations due to extremely poor wind conditions across Northern Europe, also if compared to February 2012.
  • The year-to-date 2013 total wind production is 16 % higher than budget. The total production generated in February 2013 is 23 % higher compared to February 2012.
Solar
  • In February 2013, the solar plants in both Italy and Spain generated a production fairly higher than expectations (+9 %). The year-to-date figures are above expected level, despite registering a decrease compared to the same period of 2012.

Read the announcement – PDF

6/2013: Term sheet vedr. Joint Venture med Foresight underskrevet

Greentech Energy Systems underskriver term sheet vedr. Joint Venture-aftale med Foresight-gruppen omkring investeringer i solprojekter i USA