Grupo Ortiz continues to increase during 2017 its backlog of renewable power projects. Its Ortiz Energía branch in Mexico will build the 180 MWp “Solem 1” and the 168 MWp “Solem 2” photovoltaic power plants, located in the state of Aguascalientes in Mexico. The sponsor of both project is the joint-venture of Cubico and Alten.
Each of the power plants has a 14 month-long construction timeframe; and in both plants Ortiz shall carry out operation and maintenance (O&M) for 5 years, extendable to 10 years.
These photovoltaic plants in Mexico, along with the ones contracted in Japan (27 MWp) and El Salvador (14 MWp) bring the aggregate of photovoltaic capacity under construction by Grupo Ortiz to more than 390 MWp. Furthermore, recently, Ortiz has completed a 58 MWp plant in Chile.
All of which reinforces the positioning of Grupo Ortiz as one of the world’s leading players for such photovoltaic projects, with more than USD 350 million awarded.
The consolidated turnover of Grupo Ortiz for year 2016 amounts to EUR 351.1 million and its EBITDA to EUR 36.6 million. The turnover considering concessions which do not consolidate would amount to EUR 390.1 million and its EBITDA to EUR 65.7 million. Overseas sales account for 45% of the group’s total, and in the energy division they account for 85% of that division. Backlog amounts to EUR 4.1 billion.
Net Financial Debt (NFD) has dropped 44% during year 2016, in line with the debt reduction strategy, thus achieving a NFD/EBITDA ratio below 2x.