German developer PNE Wind made an operating profit of €0.2m in the first three months of the year, compared with a loss of €6m in the same period in 2015.
However, sales were down during the first quarter to €11.9m, having been over €15m in the first three months of last year.
The company said income from its operating wind farms helped it achieve the positive result.
But PNE also faced high expenses in connection with the development of other wind farms, which, it said, “will pay off in the future”.
PNE Wind chief operating officer Markus Lesser said: “We have achieved a good start in an exciting and eventful year.
“We intend to realise our wind farm-portfolio by means of an IPO or by placing the portfolio directly with an investor.”
He added that four onshore wind farms with a total nominal output of 55.2MW are under construction, of which 32.1MW will be bundled into the wind farm-portfolio.
Construction of other wind farms totalling 32.9MW will start soon, he said.
Image: PNE Wind
