Financial statements in renewable energy: high-level puzzling

Behind every successful wind or solar project is a solid financial story. Subsidies, production data, PPAs and GvO revenues: at the end of the year, everything has to add up in the financial statements.

This is not a standard job. It requires knowledge of the energy sector as well as an understanding of the numbers. For Frank Stam, controller and staff team leader at GreenTrust, this is when everything comes together. “The financial statements are the final piece of a year,” he says. “All the puzzle pieces have to fall into place. That’s what makes it interesting.”

The year end: everything on edge
For Frank, the year begins with a fresh start: a new fiscal year, goal discussions with the team and preparations for new reports. Once that foundation is in place, the focus shifts to closing out the previous year. What still needs to be done? Where are areas of concern? What has priority? “It’s always a busy period,” says Frank, “but also an interesting one. You see where we end up as a company and with our energy projects.”

Wind and solar require expertise
Financial statements for a wind or solar project differ from regular financial statements. Consider revenues from PPAs, GvOs and SDE subsidies. Or factors such as profile and imbalance. That makes it more complex. But those who know the industry well also recognize the patterns. “Once you are familiar with the matter, projects look a lot alike,” Frank explains. “Then you can work efficiently and deliver high quality.”

This is precisely why sector-specific knowledge is so important. Behind the numbers lies intrinsic complexity. If you do not sufficiently understand that world, you can make mistakes. With the right knowledge, you can not only prepare correct financial statements, but also give valuable advice to shareholders and management.

Everything under control all year round
GreenTrust prepares financial statements for both its own projects and external clients. In doing so, Frank works closely with colleagues Anja and Telly, who take care of the financial administration.

“Because we are involved in the administration throughout the year, we have full insight into the figures. We are close to the ball, can make interim adjustments and provide timely advice.”

For the corporate tax return and publication report, GreenTrust we work with an accounting firm. “Through short lines of communication and mutual trust, we switch quickly and keep a grip on quality and costs. For our relations, this means a smooth process and lower (accountant) costs. A real win-win.”

Where the numbers get real meaning
For Frank, the appeal is not only in the numbers. “During conversations with shareholders and management, you can really add value. You see how your work contributes to the bigger picture.”

At GreenTrust, the financial statements are not a required number. It is the moment when sustainability, strategy and finance come together – and craftsmanship becomes visible.

Wondering what this means for your project?
Financial statements don’t have to be a complicated process. With the right knowledge and commitment, it becomes an orderly process – with clear outcomes.

Wondering what that looks like for your project? Feel free to contact us. Frank and the team will be happy to tell you more about it.