The renewables division of Norwegian company Ganger Rolf, which consists of a 50% ownership of Fred Olsen Renewables (FOR), had operating revenues of Nkr199m, up from Nkr115m last year.
The growth was due to higher wind speeds and increased installed capacity, the company said.
EBITDA was also up at Nkr106m in the third quarter of 2015, up from Nkr52m in the same period last year.
For the year to date, FOR operating revenues stand at Nkr824m.
But operating revenues for Ganger Rolf’s shipping and offshore wind section were down at Nkr254m compared with Nkr429m in the same period last year.
“Income from the jack-up installation vessels Brave Tern and Bold Tern was lower during the quarter compared to previous year due to lower utilisation following delays in construction of several offshore wind farms and increased competition from oil service vessels,” the company.
The low utilisation also led to EBITDA dropping to minus Nkr17m in the third quarter of 2015 compared with Nkr167m in the same period last year.
Image: Fred Olsen’s Brave Tern (Fred Olsen Renewables)
