Elia Group is making significant progress on its offshore wind transmission work after signing off on financial results that reveal net profit up 25.4% to €210.6m in 2015.
The transmission system operator said it made grid investments last year of €353m in Belgium and €902m in Germany to accommodate increasing flows of renewable energy, including the 288MW Baltic 2 offshore wind farm.
It said in Germany the medium-term outlook remains positive in light of the stable regulatory framework until 2018.
However, following the major investments in recent years, “expanding the maintenance activities, especially offshore, will pose a challenge in terms of productivity in 2016 and will have a resultant impact on the net results compared to 2015”.
In Belgium, the company is not making projections yet because of parameters than will only become known at the end of the year, such as the impact of bond and inflation rates, Elia said.
Image: Elia Group
