Renewables earnings at Iberdrola grew 38% in the first nine months of the year, boosted by increased wind generation and hydro power output.
Earnings before interest, tax, depreciation and amortisation reached almost €1.8bn in the period, up from just under €1.3bn in 2017.
Clean power revenue was over €3bn, compared with just above €2.3bn last year, a 30% rise.
Renewables generation grew by 22% to 46,874 gigawatt-hours, offshore wind output jumping almost 92% as the 350MW Wikinger project (pictured) in the German Baltic Sea came online.
Offshore wind generation was just above 1GWh, while onshore wind output was up almost 10% to 27,051GWh. Hydro soared 41.5% to 17,841GWh, Iberdrola said.
Renewables accounted for 42.8% of the company’s electricity generation.
Installed clean power capacity rose 3% compared with the end of the same period last year to 29,592MW.
Onshore wind accounted for 15,654MW of this, offshore wind 544MW and hydro 12,635MW. The remainder was solar and mini-hydro.
Overall, Iberdrola revenue in the first three quarters of the year was just under €26.3bn, compared with almost €22bn in 2017.
EBITDA was €6.7bn, rising from just below €5.5bn last year.