New capacity and higher power prices boosted underlying operating profit in Vattenfall’s wind business in the first quarter of 2019.
Underlying operating profit was Skr1486m (€139m) between 1 January and the end of March, up from Skr1041m in the same period of 2018. Net sales rose to Skr3657m this year from Skr2963m.
Vattenfall said three wind farms have been commissioned in the last 12 months – 97MW Aberdeen Bay (pictured), 29MW Slufterdam and 141MW of the 407MW Horns Rev 3.
Lower generation at the Horns Rev 1 offshore wind farm as a result of repair work was compensated by higher generation from other existing projects.
The company also inaugurated its largest solar plant in March with capacity of 5.7MW at Eemshaven in the Netherlands.
Output from the wind business was 2.5 terrawatt-hours compared with 2.2TWh last year, Vattenfall said.
Overall, the company’s profit for the period was Skr6420m, up from Skr4158m in 2018.
Underlying operating profit grew to to Skr9673m from Skr9359m.