Practice and time do the experience. Solaria has experience. The dean company of the Spanish solar sector – 23 years of history, 18 on the stock market, five in the IBEX 35 – has graduated in resistance. He has stopped aging in the stock market and rises in the year more than 20%. Something has changed. The change is due to the advances to store the energy generated in batteries and sell it at a better price, to the commitment to supply to data centers and the perspectives of new bilateral contracts (PPAS). The doubts that affected the value of the company due to the evolution of interest rates and energy prices have not completely disappeared – in the first semester 607 hours have been recorded with negative or zero prices in the wholesale market – but they are no longer in the foreground. Weigh more expectations in Spain and Europe-at least in its managers-to sustain renewable development and decisions such as the sale of 49% of its generia Land subsidiary, dedicated to the management of land for solar parks, to the American fund Stonepeak, an operation that has contributed a new partner and has overwhelmed the results of the first half of the year. (35% of the capital) has set new objectives and has taken brightness to its Exhibitor in the stock market. He has done it with a sharing repurchase plan for 10% of the capital, of which he has executed 2%. The company explains the reason for the plan: «We have understood that there has been an infraponderation of our value.» Solaria had not installed panels since mid -2023, but now moves. Eduardo Im average, rental analyst 4, emphasizes that Solaria «expects almost double its operational capacity from the current 1,659 MW to the 3,089 MW in the late 2025», something that will require an investment effort that can put pressure on a box with a net debt of 1,130 million. «The effective contribution of these new assets to Ebitda [beneficio de explotación]”, IMA average,“ it will be reflected mainly from 2026. ”In the short term, the fuel of the company is the advances in the supply of energy to data centers and new PPas that ensure prices and reduce the percentage of billing that depends on sales to the market, a quarter of the total. Solarar Endesa, Repsol, Shell, Statkraft and, the last, trafigura. affected by the price changes of the wholesale market. ”The company's analysis – logically positive – has reasons. Solaria has consolidated around 1.2 GW of demand for the energy supply of data centers in Spain and Portugal, after having obtained confirmation of the electricity network to connect 225 MW in the Basque Country; has signed a supply agreement with the logistics trafigura and has advanced significantly in the sector of the sector Storage encouraged by the rapid drop in the price of batteries. (Hybridization). of renewable origin and storage separates the success of failure. Iberian energy (OMIE), 784 hours were recorded -more than a full month -with an average price of -0.12 euros MWh. MW produced.
Change of trend
Solaria knows that the time to bet on storage is favorable. The average cost of battery production in China has fallen 50% in the last two years and the price of raw material – lithium – 80% in the same period. That partly explains that investment in batteries in Europe shows a change in trend. According to the European Market Outlook for Battery Storage 2025-2029 of SolarPower Europe, in 2024, the installation of batteries in the residential sector of the continent (self-consumption)-12.3 GWh in 2023 to 10.8 GWh-fell for the first time while the investment in large-scale storage was encouraged. The relay, according to the report, are taking the large electrical and energy companies like Solararia. They invest in storage to negotiate better in a market that begins to multiply low prices, zero or negative prices. The solar company has demonstrated adaptation capacity. Since the beginning as manufacturers of solar panels, the Díaz-Tejeiro, with the initial support of prominent investors such as Manuel Azpilicueta, former president of the circle of businessmen, or lawyer Íñigo Sagardoy, they have moved well on the renewable board. They placed actions from Solaria to institutional investors in a public subscription offer (PAHO) in 2005; They went out in 2007 and joined the elite of the market, the 35 of the Ibex, five years ago. At his birth, he was ahead of the solar energy boom; He manufactured panels until it was cheaper to import them from China, ”manufacturing in 2014 -; He raffled the regulatory fluctuations and the crises of the premiere of the century and also the shock of energy markets by the Ukraine War. Ahead, the whole future.
