Saturday, September 30, 2023

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Better Energy just got even better

Better Energy has just published the company’s integrated annual report for 2022, which shows solid growth. 

Revenue almost doubled to DKK 2.9 bn (390 million euros), with ten solar parks connected to the electricity grid in Denmark and two in Poland. In Poland, the company increased its revenue to 123 million euros in 2022.

In a year characterized by great uncertainty and many challenges in global supply chains, Rasmus Lildholdt Kjær, CEO of Better Energy, highlights his organization’s integrated value chain:

“We have built and grid connected a lot of solar parks over the past year and what I am most proud of is the many good employees who are the reason why we have succeeded. In Better Energy, we have full control over our entire value chain from development, procurement and logistics to the construction phase and finally maintenance, asset management and power sales from our solar parks. In a volatile market, our organization and business model have proven to be both robust and able to create long term value,” he said.

In 2022 in Poland, the company connected two large projects to the grid, Postomino and Polanów, each with a capacity of 30 MW, and increased the portfolio of projects at the development stage in Poland to over 1,000 MW. It also started the construction of three large photovoltaic farms with a total capacity of 177 MW. The scale of growth in Better Energy’s operations was underlined by the opening of a new office in the Warsaw Spire building.

According to the company, a big success was the signing of a five-year PPA agreement with the Danish confectionery manufacturer Toms Group for the sale of electricity from a photovoltaic farm being built in the northern part of Poland. It is one of the first examples in Poland of concluding a PPA directly between the energy producer and the recipient, bypassing intermediaries.

In 2023, Better Energy expects to increase activities in Denmark, Poland, Sweden and Finland by adding additional projects to an already strong capacity pipeline. The number of employees is expected to reach around 500 people by the end of 2023.