Report
ECOENER : Mastering the elements across unconventional geographies
We initiate coverage of Ecoener on Outperform with a target price of € 5.9 (sum of the parts valuation: € 0.9m/MW in operation and under construction; c.12x EV/EBITDA 2024e, 7.7x 2025e). Ecoener is a multi-technology renewable operator (341 MW) which we believe will be able to bring an additional 215 MW on stream in 2024 (+60%) and sustain annual additions of 200 MW without compromising its execution capability or financial solvency. With its vertical integration, multi-technolog...
Underlying
GRUPO ECOENER S.A.
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Luis de Toledo Heras
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