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Ukraine catapults Berkeley, Solaria and Grenergy into the heat of energy sovereignty

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Ukraine catapults Berkeley, Solaria and Grenergy into the heat of energy sovereignty

The Australian mining company Berkeley is being the true locomotive of the Spanish stock market with an annual rise of close to 200%, with a rose 186% in the last month and 48% in the last five sessions. The uranium extractor capitalizes only 203 million euros in the Continuous Market, so it presents great volatility due to its low liquidity and size that has made it star in episodes of large increases in recent periods.

Berkeley Energía considers that the Government should review its position of not authorizing the uranium mine project in Retortillo (Salamanca), with which it ensures that the demand for this fuel from the Spanish nuclear power plants could be covered and not have to depend on the mineral that, by almost 40%, Russian procedure.

The London-based company assures that Spain not only has uranium reserves to cover national demand, but that these are among the most important in the entire European Union. According to data from the public company ENUSA, Spain currently imports 38.7% Uranium from Russia and 19.5% from Niger; and 11% from Kazakhstan; and 3.7% from Namibia and 2.5% from Uzbekistan.

The company is pending the challenge to its administrative appeal filed after the decision of the Ministry for the Ecological Transition and Demographic Challenge last November to deny the authorization for the construction of the plant, and the report, also contrary, of the Security Council Nuclear and, in the event that it is resolved favorably for Berkeley, it assures that in 18 months it could already be supplying uranium in sufficient quantity to supply the one that comes from Russia.

The Australian affirms that in this way Spain could be energetically independent of this fuel for the supply of national nuclear power plants for another ten years. Likewise, he recalls that the price of uranium has undergone a significant increase in recent months and is currently at 55 dollars per pound, which is 30% higher than that estimated by Berkeley in its feasibility study for the Retortillo plant.

Solaria rises 19.5% and the Ibex 35

The renewable Solaria is revalued somewhat less on the stock market. The park in Spain is based on competition from Ecoener, Grenergy, Audax, Soltec and Acciona Energía. In the Ibex 35, only one of them was PharmaMar with 24.7%.

Solaria has a project portfolio of 14.2 GW, of which 2,057 MW are in operation and construction, and maintains its goal of reaching 18 GW in 2030. To do this, it has an additional 3,320 MW in Spain that are or have exceeded and to the public information phase. In Portugal, Solaria has 63 MW in operation and construction and another 440 MW in designand in Italy, where it has recently opened an office in Rome, it has a portfolio of more than 1,200 MW and expects to have 40 MW under development by the end of 2022 to achieve its goal of reaching 3 GW in 2030.

“Russia’s invasion of Ukraine is changing the flow of capital from one sector to another. The utilities and renewables sector is now beginning to attract money in an environment where concerns about energy supply in Europe are increasing”, comments Sergio Ávila, analyst at IG.

“After having lost 61.15% of the maximums of the year 2021, Solaria shares seem to have already found a floor at 12.06 euros, bouncing ever since in recent sessions and breaking out of a bearish channel to the top. All this projects us a minimum theoretical objective of rise to 22.72 euros, with the permission of 20.50 euros, which would be the first level of resistance -annual pivot point-. Solaria is once again in a sweet moment”, adds Ávila.

In the case of renewables, Grenergy Renovables also stands out with an increase of 11.4% in the last month. So far this year, a revaluation of 7.9% has been noted. Grenergy has just registered a new green bond program in the MARF for 100 million. Likewise, the listed company directed by David Ruiz de Andrés announced three weeks ago his entry into the US market with the acquisition of 40% of the developer of photovoltaic and battery projects Sofos Harbertm, based in the state of Alabama. Grenergy points out that the agreement includes the option to gradually acquire the entire shareholding of Sofos Harbert when three years have elapsed since the closing of this operation.

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