Enel Green Power has reported a 74% increase in operating profit (EBITDA) for the first nine months of 2023.
The developer achieved EBITDA of €3.4m, compared to €2m for the same period in 2022.
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Revenues rose by 23% to €8m in the first nine months of 2023, up from €6.5m the previous year.
The rise was due to an increase in renewable energy generation (+10.5 TWh), mainly from hydropower sources, as well as the positive performance of the free market, following differences in commodity sale price developments.
This more than offset the effects of the decrease in the volume of thermal generation and the recognition of a clawback in Italy (€357m), according to the Enel board.