Italian developer ERG has reported a 68% rise in net profit in the first quarter thanks to improved wind conditions and new operating projects.
Net profit increased to €57m driven by more than 900MW of new capacity installed over the past year in several countries, it said.
The power company said it is pursuing a strategy of international growth that has made it Europe’s eighth biggest wind operator.
Of its 1720MW installed, 37% is already abroad in countries such as Italy, France, Poland and Germany.
ERG chief executive Luca Bettonte said: “The first quarter results show a strong growth and are decidedly satisfactory, reflecting both the improved wind conditions recorded with respect to the previous year and, above all, the full contribution from the over 900MW of new capacity installed and acquired during the past twelve months.”
Image: ERG
