Innogy reported adjusted earnings before interest and taxes from renewables of €155m in the first quarter of 2018, up 15.7% on the €134m posted in the same period last year.
The German company said the increase was mainly down to positive price and volume impacts thanks to better weather conditions than in 2017.
Renewables output was up more than 14% to 3.2 terrawatt-hours from 2.8TWh last year.
Net investments in renewables were down to €70m in the first three months of the year, compared with €130m last year.
The latest period saw investments in onshore wind projects in Italy and onshore and offshore wind in the UK. The drop in investment was down to the acquisition of solar company Belectric in the same period last year, Innogy said.
Total renewables capacity stood at 3514MW at the end of the period, up from 3487 last year, the company added.
The company expects adjusted EBIT for the year from renewables to be about €350m, compared with €355m in 2017.
Overall, adjusted EBIT was €1236m in the first quarter of the year, down 2% on the €1261 posted last year.
The drop was mainly down to falls in the retail business resulting from commodity price increases driven by cold weather.
Image: Innogy
Innogy green earnings grow
By EBS