Swedish wind developer Arise recorded earnings before interest and tax in 2019 of Skr60m (€6m), up from Skr28m on the year before, its latest results show.
The year-end results were aided by a strong showing in Q4, which saw the company book Skr140m following the sale of its 231MW Skaftasen wind project in Sweden to Foresight Group.
The sale is expected to bring in Skr210m in total the company said.
“We are looking forward to gradually advancing our positions and selling more projects over the next few years. We are in a positive trend with interesting times ahead of us,” chief executive Daniel Johansson said.
“We are not dependent on making quick deals, instead we can bide our time and maximise the value of our project sales. 2020 will be an important year for us as we look to refinance our own wind farms and extend their service lives,” he added.
The company said weak winds had hampered its performance of its wind assets over the year, which generated 333GWh of power across the year.
Arise has a project portfolio of 850MW of which 780MW are in Sweden and 70MW in Scotland.