Swedish wind player Eolus Vind reported a loss in earnings before interest and tax of Skr10m (€1m) in the second quarter of 2018, compared with a Skr7.3m deficit in the corresponding period last year.
Overall, Eolus made a net loss of Skr4.6m from 1 April to the end of June, a slight improvement on the Skr5.7m loss in the same period last year.
However, net sales grew in the quarter to Skr22.6m, up from Skr9.3m in 2017.
Eolus said it had projects totalling 337MW under management at the end of the quarter, up from 332MW in 2017.
The company’s wind farms generated 6.3 gigawatt-hours of electricity in the three months, down from 11.6GWh last year. However, average revenue from output was Skr532 a megawatt-hour, higher than the Skr407MWh last year.
In March, Alcoa signed an agreement with Eolus to buy all electricity produced from the 330MW Oyfjellet wind farm in Norway when it is commissioned in 2021.
As part of the deal Eolus signed a power purchase guarantee of €256m with the Norwegian Export Credit Guarantee Agency.
Image: sxc
Eolus in the red
By EBS