Swedish developer Eolus Vind made a loss of Skr7m (€661,000) in the fourth quarter of 2021 and an overall loss of Skr24m for the year as a whole.
This compared with a net profit of Skr16m in Q4 2020 and Skr198m for the whole of 2020.
Eolus said in Q4 the handover of the Norwegian project Oyfjellet to Aquila was expected to be delayed until the second quarter of 2022.
The main reasons for the delay are technical problems for the turbine manufacturer, Covid-19 related issues that have limited travel opportunities for staff and led to delivery delays of components.
Challenging weather conditions have also affected the installation work, the company said.
The delay has led to a lower degree of completion in the project than expected and increased costs, which together have had a negative impact on Eolus’ sales and earnings.
In 2021, facilities with a total installed capacity of 47MW were taken into operations and handed over to customers, compared with 324MW in 2020.
Eolus said it had 914MW of assets under management at the end of 2021, just up on the 903MW at the end of 2020.