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CVE passes the €100 million sales mark in 2024 and strengthens its market position

Key figures 2024

  • 2024 sales: €104 million* (74% for solar and 26% for biogas), up 14% on the previous year, driven in particular by strong growth in the biogas business;
  • Under construction and in operation: 885 MW and 12 methanization units
  • Secured pipeline: a significant increase of 635 MW, bringing the total to 3.6 GW and validating the Group’s strategy of strengthening its development resources over the past 2 years.
  • Robust financial position: cash and cash equivalents of €220 million at December 31, 2024, at a comfortable level to support the Group’s ambitions.

2025 outlook

  • Sales of between €130 and €140 million, with a rising EBITDA margin of between 52% and 54%.
  • A strong ambition: to reach 1 GW of solar capacity and own a fleet of 19 methanization units by the end of 2025, with a volume of waste collected of around 520 000 tonnes**.

* Estimated and excluding asset disposals ** Budget in the process of being validated

Despite a complex environment in 2024, marked by political uncertainties, regulatory challenges and tensions on electricity grids, CVE has demonstrated its ability to adapt and the strength of its collective. During the year, the French independent renewable energy producer structured its solar activities in France and diversified its pipeline with complex projects incorporating self-consumption projects

CVE is also stepping up its development in agrivoltaics, with a pipeline of 403 MW secured. By 2024, CVE France’s solar projects will account for 3.5% of total capacity under construction in France, confirming the company’s place in the national energy landscape and its contribution to the energy transition.

At the same time, CVE’s trajectory in biogas has been consolidated, with a 10% growth in its installed capacity, in line with the Group’s ambitions. CVE Biogaz aims to actively contribute to the ambitions of the French biogas industry, which aims to increase the share of renewable, low-carbon gas to 20% of national consumption by 2030, up from 2% today.

A mission-drivent company since 2022, CVE today employs 500 people, including 350 in France, mainly based in Marseille and in the Group’s 8 regional offices, and has more than 600 solar farms and 12 methanization units spread across France and in the 4 countries where the Group also operates: the United States, Chile, South Africa and Spain.

Pierre de Froidefond, Hervé Lucas and Arnaud Réal del Sarte, co-CEOs of CVE, commented: “The year 2025 begins on a robust note, with two major financial successes: the finalization of a 202 million euro structured financing package for a 203 MWp portfolio of solar power plants, and a 70 million euro equity financing round dedicated to biogas. These successes confirm the renewed confidence of our financial partners and reinforce our ambition to develop decentralized, sustainable production, serving the decarbonization of companies, municipalities and the agricultural world”.