Irish semi-state company Coillte is on track to hit a 320MW installed onshore wind target by the end of 2019, according to its latest annual results.
The forestry body said it completed €160m of new investment last year in the 35MW Raheenleagh wind farm (pictured) in Wicklow and 58MW Sliabh Bawn project in Roscommon, both of which were completed in 2016.
Coillte also notched financial close last year on the in-construction 33.1MW Castlepook project in Cork alongside partner ESB.
In addition, its joint venture with SSE on the in-construction 169MW Galway wind park, which is due for completion this year, will see the semi-state hit its targets, it said.
A number of other projects are also in the pipeline.
Overall, Coillte recorded EBITDA of €98.3m for the year, up 10% on the previous year. The figures represent growth of 22% over the last two years, it said.
Operating profit stood at €64.4m up from €60.4 on the year-ago period, thanks to “record” revenue of €287.7m.
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