Renewable energy developer Futuren increased its consolidated revenues to almost €19.6m in the first quarter of 2016, an 11% improvement on the same period last year.
Electricity sales grew 17% to €17.9m, up from €15.3m in the first three months of 2015.
However, revenues from the development and management of wind farms fell 29% to €1.7m in the first quarter of this year, compared with €2.4m in 2015.
The company said the electricity sales increase was driven by the commissioning of a 21MW wind farm in November last year and favourable wind conditions in France in the first quarter of this year.
The decrease in revenues from the development and management of wind farms segment was mainly due to the end of some contracts for third parties in Germany and France at the end of 2015.
“In order to optimise the activity of wind farm management for third parties, Futuren is gradually ending certain contracts,” the company said.
Futuren said it expects to commission a further 31MW by the end of this year – the 18MW Chemin Perre project and 13MW Les Monts facility.
Image: sxc
