ContourGlobal adjusted earnings from renewables grew 27% to $119.8m in the first six months of 2018, up from $94.5m in the same period last year.
The results were boosted by increased clean power capacity and output in the first half of this year, compared with 2017.
ContourGlobal had just under 1.8GW of renewables capacity operating at the end of June, a 20% increase on the almost 1.5GW installed last year.
The company’s renewables assets generated 2,138,575 gigawatt-hours of electricity from January to June, a 12% rise on the 1,905,123GWh produced in 2017.
ContourGlobal president and chief Joseph Brandt said: “We are announcing strong first-half results, our first since our IPO last November, driven by continued excellent power plant operations in our thermal and renewable fleets as well as our recent acquisitions of renewable assets in Europe and Latin America.
“The integration of our recently closed acquisition in Spain is proceeding as planned and recent regulatory statements about the next rate reset are very positive for the revenue outlook for that business.”
ContourGlobal acquired Acciona Energia’s 250MW portfolio of five 50MW solar plants in south-west Spain.
Image: Pixabay
Contour wears clean power smile
By EBS