Dutch energy company Eneco invested €21m in new wind and solar projects in the first half of 2016, out of total investments of €230m.
Some €17m was invested in new wind farms in Belgium and the UK, with the remaining €4m spent on solar facilities in Belgium and the Netherlands.
Overall, new investments were below the €380m spent in the same period last year, which Eneco said was due to the completion of large wind projects and the acquisition of a heat plant in 2015.
The company’s total revenue was down 12% in the period to €2.076bn, compared with €2.363bn last year.
The fall was mainly down to lower prices for gas and, to a lesser extent, electricity, Eneco said.
The company added that the weather only had a limited impact on the results, with temperatures slightly higher this year than last and wind conditions continuing to be “less favourable than the long-term average”.
Profit was also down in the first six months of 2016 €139m from €144m in the same period of 2015.
The company did not put out a forecast for the rest of the year because of its plans to unbundle its grid operations business from the energy production and supply unit from 31 January 2017.
Image: Eneco
