GreenYellow strengthens its European presence in 2024 in a context favorable to the development of decentralized solar energy and self-consumption photovoltaics
- GreenYellow is seeing a real attraction for decentralized solar power and self-consumption, offering its clients green, local and competitive electricity in a market context marked by power grid instability and rising energy costs.
- Third-party financing operators such as GreenYellow are gaining ground as companies face high energy and financing costs.
- GreenYellow’s financial partners have renewed their confidence, supporting the group in its investments to the tune of almost 400 million euros by 2023.
- Over the coming year, GreenYellow aims to increase its presence in Europe, develop nearly 400 MW of solar projects, and generate nearly 150 GWh of energy savings for its clients in France and abroad.
A favorable market environment for energy transition and solar self-consumption
Against a backdrop of crisis, GreenYellow, a major player in the energy transition for businesses and local authorities, has seen a surge in client demand for decentralized solar power and self-consumption projects, mainly from industrial companies, logistics firms and retailers.
Whereas grid-injected solar projects accounted for 70-80% of the Group’s orders before the Ukrainian crisis began, this proportion has now fallen to 20-30%, in favor of self-consumption projects. This reversal of trends, which can be seen in France and Europe, underlines the growing appeal of self-consumption to businesses.
Faced with rising energy prices and the cost of financing the energy transition, companies and local authorities are looking for financial support for their energy projects. In addition to the service model offered by EPCs, they are increasingly turning to third-party operator-maintainer-financiers, such as GreenYellow. These operators take charge of the entire investment and provide comprehensive expertise in the administrative, technical and operational management of projects. What’s more, these operators guarantee the plant’s performance throughout the duration of the contract.
More than 6,000 projects since GreenYellow was founded
In 2023, GreenYellow’s financial partners renewed their confidence by supporting the company in its investments of almost 400 million euros. This move strengthened the group’s position as a major and distinctive player in the market, thanks to its unique platform of 100% financed decarbonization offers.
GreenYellow has focused its efforts on 4 main vertical markets: retail, logistics, services & industry, and local authorities.
The results to the end of December 2023 demonstrate the significant impact of its action:
Via its Energy Efficiency offer, to consume less #SHIFTEfficiency
- ~ 3,600 Energy Performance Contracts
- ~ 1,150 GWh in annual energy savings
- + 3 TWh of energy under management
- + 5,000 points of consumption
Via its offer dedicated to solar energy production, to consume better #SHIFTProduction
- 1,320 PV plants installed or under construction
- 1,360 MWp capacity installed or under construction
- GreenYellow has also accelerated its local growth with :
- In France, the acquisition of 100% of Reservoir Sun, our entity dedicated to solar self-consumption and multi-site approach.
- In Spain, a strategic alliance with the Enhol group for accelerated growth, with an investment target of €200 million over 5 years to reach 300MWp in solar power and generate 100GWh in energy savings.
- Numerous EPC partners and Engineering departments now account for 25% of business, with a 3-year target of 40%.
GreenYellow’s growth strategy is also based on the development of services that complement its core business offerings:
- The development of electric mobility, with over 1,200 charging stations installed or in the process of being installed.
- The development of battery-based energy storage, which can be developed independently or coupled with solar production systems or energy efficiency solutions. This will get back to the challenges posed by the intermittency of renewable energies and the grid systems in certain geographies. Launched in 2023, GreenYellow already has 6.4 MWh of operational capacity and an opportunity portfolio of 300 MWh.
All the projects carried out by GreenYellow since its creation in 2007 have enabled our clients to avoid the emission of 578,000 tonnes of CO2 equivalent. The Group is also aiming to achieve “Net Zero” carbon neutrality for categories 1 and 2 by 2040.
GreenYellow’s ambitious strategy for 2024 and beyond…
In 2024, GreenYellow is continuing its efforts to achieve ambitious goals, including:
- Nearly 150 GWh in annual energy savings through Energy Efficiency projects
- Nearly 400 MW of solar signatures
- 500 million euros in new financing
In early March, GreenYellow signed the largest financing deal for solar self-consumption in France. It aims to finance the development and construction of 92 PV plants in France, representing a total capacity of 73 MWp.
GreenYellow also aims to develop “Utility as a Service” models to provide its clients with adaptive, scalable energy solutions that are free from financial risk.
Finally, GreenYellow is pursuing its development strategy around these main regional hubs, with a strong focus on Europe and a move towards financial autonomy in Latin America and Asia.
