Swedish renewables developer Eolus net profit jumped to over Skr194m (€19m) in the financial year ending 31 August 2018, from Skr24.5m last year.
Earnings before interest and taxes also soared to Skr202.4m in the latest financial year from Skr40.2m in the previous period. Sales rose to Skr1.366bn from Skr1.065bn.
The company said the sale of the 79MW Jenasen wind farm in Sweden to Munich Re asset manager MEAG was one of the main reasons for the good results.
The company brought wind farms online totalling 83.8MW in the last 12 months, compared with 72.2MW previously.
Turbines handed over to customers reached 93.3MW, while managed turbines by Eolus reached 415MW up from 351MW.
Output was down to 30.2 gigawatt-hours from 58.6GWh, but this was offset by higher average power prices that rose to Skr470 a megawatt-hour from Skr/MWh in the previous financial year.
Eolus chief executive Per Witalisson said: “The success is the result of genuine project development skills, good sales work and a high-quality and cost-conscious processes.”