Irish investor Greencoat Renewables increased both power and cash generation last year on the back of a string of acquisitions, according to annual results.
Output from its wind farms was up 22% to 1404GWh while net cash flow was up 36% to €66.4m.
Its portfolio grew to 557MW with four further projects acquired during the year.
The company has declared total dividends of 6.06 euro cent per share with respect to the year, which will remain the case for 2021, said non-executive chairman Ronan Murphy.
“I am very pleased to announce another strong set of results for the company, both in terms of operational performance and continued implementation of our growth strategy,” he said.
“While real challenges remain in the wider economy as a consequence of COVID-19, fortunately the company continues to perform extremely well, demonstrating the stability of our business model.
He said Greencoat Renewables has “matured significantly” in the over three years since listing.
“We are much larger and more diversified and are benefiting from increasing economies of scale. We also have a considerable opportunity ahead of us as we bring our expertise and experience to the deep pool of renewable assets in Europe,” he said.