Genie Energy ‘on track’ to achieve adjusted EBITDA baseline of $40M-$50M

CEO Michael Stein continued: “Our solid performance in the first half of 2024 puts us on track to achieve our new, consolidated Adjusted EBITDA baseline of $40 – $50 million annually, representing a meaningful increase from the $25 – $30 million range we were targeting just a few years ago. In our solar portfolio, we expect to continue to build out our two New York community solar projects for the rest of the year. We have also advanced two projects, comprising 10MW of potential production, to the permitting stage and are identifying new opportunities to expand our pipeline. Also within GREW, we expect that Diversegy will report another year of strong double-digit growth.”