In 2024, GreenYellow continued its transformation in coordination with its majority shareholder ARDIAN (+90%), along with Bpifrance and Tikehau Capital, by implementing a strategy to align its activities and geographic presence:
- Two-thirds in France and Europe
- One-third in Asia and Latin America
GreenYellow pursued its European expansion with significant milestones. The development of GreenYellow Italy was marked by the launch of a €100 million investment plan by 2027 to finance solar energy projects, energy efficiency programs, and energy storage solutions. At the same time, GreenYellow strengthened its growth strategy through acquisitions - most notably expanding into Portugal and Poland with the acquisition of GEM - and strategic partnerships, including one with the Enhol Group to invest €200 million over five years in the C&I sector in Spain.
In France, GreenYellow consolidated its position by fully integrating the 80 employees of Reservoir Sun, a historic leader in solar self-consumption, following the acquisition of Engie's 50% stake in their joint venture. GreenYellow also signed a major strategic contract with the Carrefour Group to install photovoltaic carports on 400 hypermarket and supermarket parking lots across France, creating the largest decentralized solar program in Europe.
GreenYellow expanded its presence in Asia, entering the Philippines and securing its first contract with Unilever for a 2.4 MWp rooftop solar plant.
The company’s portfolio growth was demonstrated through the development of energy efficiency solutions, energy storage, and innovative "as a Service" models, such as Utility-as-a-Service (UaaS), adopted by leading C&I clients.
Strong financial results in 2024 supported the company’s expansion. Normalized EBITDA reached €99 million in 2024, up from €55 million in 2023. Investment capacity was strengthened through an extension of the Capex Facility, increasing from €250 million to €450 million. Additionally, the establishment of a YieldCo enabled equity financing of €68 million for GreenYellow Asia.
With 1,000 collaborators and 1,300 clients, including mid-sized corporates, SMEs, and large corporations, GreenYellow has reinforced its position as a key player in the energy transition and independence, offering decentralized photovoltaic solar production, energy efficiency, energy storage, and charging stations for electric mobility.
Solar offerings results
- GreenYellow solidified its position as a leading decentralized solar player with 1.7 GWp of installed solar capacity since its creation in 2007, equivalent to the annual consumption of over 870,000 inhabitants.
- As of the end of 2024, the operational portfolio reached 1.1 GWp, of which 330 plants (370 MWp) were commissioned and 423 MWp of new contracts were signed.
Energy Efficiency offerings results
- The group has deployed 3,500 Energy Efficiency Agreements since 2007, resulting in 1.25 TWh of annual energy savings.
- By the end of 2024, GreenYellow's operational portfolio will reach 550 GWh, including 65 GWh commissioned during the year, representing 98 new sites. Additionally, 102 GWh of energy savings (CAPEX: €33 million) have been signed.
New activities results
- 38.5 MWh of energy storage capacity installed or under construction. GreenYellow completed flagship projects, including a 25 MWh project with Stellantis Spain, the largest battery energy storage system (BESS) project in Europe.
- Over 1,400 electric vehicle charging points are in service or being deployed.
2025 AMBITION: CONQUER EUROPE AND CONTINUE TO ACCELERATE THE INTERNATIONAL DECARBONIZATION OF CORPORATES IN TARGET SEGMENTS: COMMERCIAL & INDUSTRIAL, LOGISTICS AND RETAIL
Building on its successes, GreenYellow is entering a new phase of maturity and acceleration with clear objectives:
- Expand its European presence, establishing itself as the leader in decentralized solar energy in France, Iberia, Italy, and Poland, while fully deploying its energy efficiency solutions.
- Identify acquisition targets in the German market.
- Triple energy efficiency investments in 2025 to reach €100 million and promote the electrification of industrial processes with “As a Service” models, funded by GreenYellow.
- Develop energy storage with €10 million in investments in 2025 and a target of 300 MWh deployed by 2027.
- Strengthen financing models and financial resources to accelerate the decarbonization and competitiveness of large multi-site enterprises.
GreenYellow demonstrates that a sustainable and competitive energy transition is possible. In 2024, its projects helped avoid 545,700 tons of CO₂-equivalent emissions. With strong results and a clear strategy, the company reaffirms its commitment to making Europe its primary growth market.
"With 18 years of existence, GreenYellow is entering a new phase of maturity with a clear ambition: to become the leader in the energy transition for the C&I sector. This new stage marks the rise of our unique model—a platform of offers enabling our clients to decarbonize without compromising their economic performance. It illustrates the resilience and viability of the energy transition while strengthening our role as a key partner for corporates seeking transformation," says Otmane HAJJI, President and founder of GreenYellow.