Falck Renewables is planning to increase installed capacity to 1113MW next year and to 1430MW by 2021 from 970MW in 2018.
The Italian company outlined the plans in an updated industrial plan for 2021, which raises capacity projections for that year by 4%.
“Having delivered an accelerated growth mostly through M&A deals during the last two years, the group is now ready to invest systematically in development, with the double objective to create and capture more value and to nurture a projects portfolio ready to compete in the free market and in the PPA arena,” Falck said.
Solar and onshore wind projects will be developed in northern and southern Europe, the Nordics and North America, it added.
Consolidated earnings in 2021 are expected to be about €213m, up 2.4% on the previous projection.
EBITDA in the next two years is likely to be about €184m, the company said.
Falck Renewables chief executive Toni Volpe said: “We are proud to present our updated industrial plan on the back of an impressive 2018 that exceeded our expectations, as in 2017, both in terms of execution and economic and financial results.
“Building on the geographic and business diversification achieved in the last two years, we present improved targets coupled with a re-confirmed financial solidity and a greater focus on a risk balanced capital allocation.”