Italian renewables operator ERG achieved earnings before interest, tax, depreciation and amortisation (EBITDA) of €107m in the third quarter of 2019, compared with €109m in the same quarter last year.
EBITDA for the first three months of 2019 reached €380m against €381m in the first three quarters of 2018.
ERG chief executive Luca Bettonte said: “The third quarter operating result for 2019, was slightly higher than last year, due partly to an increased in installed wind capacity abroad and increased solar capacity in Italy.”
However, Bettonte added that results were affected by factors include low wind levels in the summer months.
“Our path to growth continues. In the period we increased installed capacity by 190MW compared to the same period in 2018, which comprises 138MW of installed wind capacity in France and Germany and 51MW of installed solar capacity in Italy.
He added, “For the 2019 financial year, we confirm our gross operating margin guidance to €495m and €505m, up compared to 2018. This is due to the increase in installed capacity.”
In September ERG closed a transaction with Aquila Capital for the acquisition of all shareholdings in three German wind farms with a total installed capacity of 34MW.