Profit at German company ABO Wind fell to under €13m in 2018, from €17m in the previous year.
The company said the German onshore market faced “serious difficulties”, with the the authorities continuing to “approve only a fraction of the projects that would be necessary to expand wind energy to the politically desired extent”.
ABO said it expects the market decline to continue this year, despite the governing coalition having set up a working group to find solutions to the problems.
It added 71MW of new capacity last year, building wind farms in Germany, Ireland and France, as well as solar farms in its home market. However, the new capacity was lower than the 166MW added in 2017.
ABO said that it also sold the rights to develop projects totalling 345MW in Finland, Spain and Germany in 2018.
The company will continue to work on these projects as part of the sales agreement, connect them to the grid and retain a share in the value added.
ABO is currently developing wind and solar parks in 16 countries on four continents.
It secured new projects in 2018 with a total output of more than 2GW, one third of which was solar power and two thirds wind power.
Turnover at ABO rose slightly last year to €150m from €147m, with overseas markets accounting for the majority of its business for the first time.