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How Investors May Respond To Voltalia (ENXTPA:VLTSA) Launching Uzbekistan’s First Hybrid Renewables Storage Cluster

Simply Wall St·01/05/2026 16:11:57
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  • Voltalia announced that it has begun construction of the Artemisya hybrid cluster in Uzbekistan, combining 100 megawatts / 200 megawatt-hours of storage and 100 megawatts of wind under long-term power purchase agreements signed with the Uzbek government in 2025, with commissioning targeted for 2027.
  • This project, the first hybrid solar, wind and storage cluster in Central Asia, aligns Voltalia with Uzbekistan’s renewable capacity goals and expands its international footprint in grid-flexibility infrastructure.
  • We’ll now examine how launching the Artemisya hybrid cluster under long-term Uzbek government PPAs may influence Voltalia’s broader investment narrative.

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Voltalia Investment Narrative Recap

To own Voltalia, you need to believe in its ability to turn a loss-making, capital-intensive renewables platform into a business backed by long-term, inflation-linked contracts. The Artemisya hybrid cluster fits that story by adding contracted, no-merchant-risk volumes, but it does not change the near term focus on cutting losses, easing leverage pressure and dealing with curtailment and project execution risks.

The Artemisya announcement sits closely alongside Voltalia’s recent 20 year indexed tariff win for 68 megawatts of solar in Italy, which also reinforces the push toward long-duration, contracted revenues. Together, these projects illustrate how new PPAs could support the SPRING transformation goal of prioritizing returns over growth, even as the company contends with ongoing net losses and a relatively high net debt to EBITDA ratio.

However, behind the appeal of long-term Uzbek and Italian contracts, investors should also be aware of the risk that...

Read the full narrative on Voltalia (it's free!)

Voltalia's narrative projects €741.2 million revenue and €29.2 million earnings by 2028. This requires 10.7% yearly revenue growth and a €50.2 million earnings increase from €-21.0 million today.

Uncover how Voltalia's forecasts yield a €10.99 fair value, a 35% upside to its current price.

Exploring Other Perspectives

ENXTPA:VLTSA 1-Year Stock Price Chart
ENXTPA:VLTSA 1-Year Stock Price Chart

The Simply Wall St Community currently has 1 fair value estimate for Voltalia, clustered at €10.99 per share, showing a single, specific view. You can weigh that against the emphasis on long term PPAs as a potential earnings stabilizer and explore how different investors interpret the trade off between growth projects like Artemisya and Voltalia’s existing net losses and leverage profile.

Explore another fair value estimate on Voltalia - why the stock might be worth just €10.99!

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.