European Energy enjoyed a record first quarter of the year with earnings at €65m, up from less than €6m in the same period of 2021.
The strong numbers originate from power sale and divestment of projects mainly in central and south Europe.
Advertisement
Power sales reached the highest level in the first quarter and contributed €26m, up from €11m last year.
In total, European Energy sold more than 229 gigawatt-hours of electricity in the first three months of the year, up from 151GWh last year.
The company added that divestments of solar parks in Italy and Denmark have also contributed positively to the financial result.
European Energy maintains its outlook €135m EBITDA and €100m profit before tax for 2022.