Pan-European energy trading company Danske Commodities posted a profit of €23.4m in 2015, up from €6.9m the previous year.
The company said the strong results, which saw revenues of €2.9bn, followed a revised strategy that included a 15-year power purchase agreement (PPA) with the Beatrice Offshore Wind Limited.
Under the terms of the deal, Danske will manage 50% of the output from SSE’s 588MW Beatrice offshore wind farm in Scotland.
The PPA is the company’s first step into the UK renewables market, which Danske views as an “opportunity to build scale while proactively managing their risks”.
It said the “strategy builds on their strong capabilities in short-term trading and asset optimisation and their ability to turn volatility into profit for customers in an increasingly complex energy system.
“As the need for flexibility rises with the growing share of renewables, they anticipate growing potential for small and medium-sized flexible assets and demand-side management in the energy system.”
Image: the Beatrice wind farm will be located near to the Beatrice demo project (Senvion)
Danske sees profit in UK wind
Energy trading company makes €23.4m in 2015 following revised strategy
By EBS