Energea Announces Strong 2023 Performance Amid Challenging Market Conditions

News provided by

Mar 04, 2024, 12:18 ET

CHESTER, Conn., March 4, 2024 /PRNewswire/ -- Energea, a renewable energy investment firm, shared its 2023 annual performance report, showcasing resilience and growth despite a turbulent economic landscape. The company's strategic focus on renewable energy investments in the US, Brazil, and South Africa has yielded significant accomplishments, including an increase in internal rate of return (IRR) for its clients, substantial revenue growth, and the expansion of its team and operational capabilities.

Energea Annual Reports offer a comprehensive overview of Energea's yearly accomplishments. Each report dives into the essential performance indicators of our company and the renewable energy projects under our management.

Despite facing high-interest rates and inflation, Energea successfully navigated these challenges, achieving a slight increase in IRR from 12.13% to 12.26%. Energea attributes this success to a diversified investment strategy, emphasizing long-term power purchase agreements that naturally align with fluctuating energy prices. Consequently, in high-inflation scenarios, energy prices—and thus revenue—tend to rise. As a result, the firm's revenues adapt correspondingly, effectively mitigating the economic downturn's effects.

Energea's expansion from 19 to 50 team members in 2023 has enhanced its management services, particularly in operations, maintenance, and energy credit management. This growth facilitated the successful payoff of remaining debt and a remarkable revenue increase of over 100% year-over-year.

Looking forward, Energea anticipates continued growth as the demand for dividend-yielding, sustainable investments grows in the US. Internally, the firm remains committed to contributing to the energy transition and continues to believe that everyday retail investors are the key to unlocking a carbon-neutral energy future.

About Energea

Energea is a leading renewable energy investment platform connecting individuals with impactful investment opportunities in solar energy. With a focus on community solar projects and sustainable investment practices, Energea aims to accelerate the energy transition while delivering attractive returns to its investors.

SOURCE Energea