Northland Power has reported a 10% quarter one increase in sales from its renewables division compared to the same period in 2015.
The US company said sales stood at $34.9m for the first three months of the year “due to the incremental contribution from the additional ground-mounted solar sites in operation”.
Ebitda increased to $103.9m while its net loss widened to $91.7m due to due lower production at generating plants as well as taxes and finance costs, it said.
“Northland’s first quarter results reflect continued progress in several key areas,” chief executive John Brace said. “We delivered our Grand Bend project into operations, while continuing to make significant advancements on both of our offshore wind projects currently under construction.”
The Canadian developer opened the 100MW Grand Bend onshore wind farm in Ontario last month and is building the 332MW Nordsee One and 600MW Gemini projects in the North Sea.
Northland is expanding its earlier-stage development pipeline in North America, Mexico and Europe.
It has confirmed its guidance for the full year.
Image: Northland
