Iberdrola earnings from renewables fell over 4% in the first nine months of 2019 to €1678m compared with the same period of 2018, mainly due to lower hydro production in Spain and onshore wind output.
Low rainfall in Spain contributed to the fall in hydro output, while lower onshore wind load factors led to less production from the sector, the company said.
Revenue from renewables was down almost 7% to about €2799m from 1 January to the end of September.
Renewables output was down 8.4% to 42,757 gigawatt-hours from 46,675GWh, Iberdrola said.
Onshore generation was down 1.2% to 26,528GWh, while hydro fell over 25% to 13,352GWh.
Offshore wind production grew by almost 38% to 1493GWh, compared with 1082GWh last year, boosted by the East Anglia 1 project coming online.
Overall, Iberdrola posted earnings up 11.6% to €7498m in the first nine months of the year, with its networks, generation and supply businesses offsetting the impact of the renewables unit.