Norwegian company Bonheur’s earnings from renewables rose to Nkr412m (€55m) in the first half of 2017, up from Nkr286m in the same period of 2016.
The company, which operates wind farms under the Fred Olsen Renewables name, said revenue was also up at Nkr595m from Nkr471m in the first half of 2016.
The increases were down to higher generation and increased prices for electricity, the company said.
Total generation in the first half of 2017 stood at 831,296 megawatt-hours (MWh), compared with 668,426MWh in the same period last year.
Bonheur’s offshore wind and shipping arm, which includes Fred Olsen Windcarrier, also had a strong start in the first half of 2017.
Earnings soared to Nkr235m from a loss of Nkr92m in the first half of 2016. Revenue also jumped to Nkr765m from Nkr383m last year.
The company said revenue from jack-up vessels Brave Tern and Bold Tern was higher than last year because of “improved utilization” of both ships, which had yard stays last year to upgrade legs and cranes.
Image: Fred Olsen Renewables
Wind boosts Fred Olsen earnings
Generation and prices drive revenue and EBITDA in first half of 2017
By EBS