Voltalia Posts 35% Q2 Growth as Renewable Capacity Expands in South Africa and Uzbekistan

Renewable energy company Voltalia reported a 35% year-on-year increase in second-quarter 2026 turnover at constant exchange rates, reaching €198.0 million, driven by new renewable energy capacity additions, strong services activity and favourable market conditions.

The company said first-half 2026 turnover rose 30% at constant exchange rates to €331.3 million, supported by growth across its Energy Sales, Renvolt and Voltalia Hub businesses.

Energy Sales generated €118.2 million in Q2 2026, up 40% at constant exchange rates. The increase was attributed to new generating capacity commissioned at the end of 2025, particularly in South Africa and Uzbekistan, favourable electricity prices and the recognition of €17 million in compensation related to production curtailment in Brazil. These gains partly offset lower production resulting from weaker wind resources in Brazil and the gradual restart of the Cacao biomass power plant in French Guiana.

Renvolt, Voltalia’s construction and maintenance business, recorded €69.6 million in second-quarter turnover, an increase of 26%, driven by continued execution of approximately 750 MW of third-party renewable energy projects across France, Ireland, Spain and Senegal. Voltalia Hub generated €10.2 million, up 35%, supported by growth in specialised maintenance and services activities.

Operationally, Voltalia’s renewable energy production reached 2.4 TWh during the first half of 2026, up 1% year on year, while installed operational capacity increased 17% to 2.96 GW. Capacity in operation and under construction reached 3.56 GW, reflecting continued project expansion across multiple markets.

The company said production growth was driven by newly commissioned renewable energy assets in South Africa and Uzbekistan, although output in Brazil remained affected by weaker wind conditions. Production curtailment in Brazil declined by 42% in the second quarter compared with the same period last year.

Voltalia also announced that it had recognised 175 million Brazilian reals (approximately €29 million) in financial compensation for renewable energy production curtailment in Brazil under the country’s regulatory compensation mechanism. The amount includes €17 million in additional turnover and €12 million in compensated expenses, positively impacting first-half 2026 EBITDA.

In French Guiana, the company confirmed the restart of the Cacao biomass power plant and the financial close of the Saint Anne hybrid power project, which will comprise a 43 MW solar power plant, a 135 MWh battery energy storage system and a 7 MW biofuel generator.

Looking ahead, Voltalia reaffirmed its 2026 financial guidance, maintaining an EBITDA target of €210-230 million and a positive net result. However, the company revised its operational capacity target for 2026 to 3.6 GW, compared with the previous target of around 3.7 GW, following a review of construction schedules for selected projects.