PNE Group has reported similar in first quarter 2021 earnings before interest, tax, depreciation and amortisation (EBITDA) as the same period in 2020.
In the first quarter of 2021 the company posted an EBITDA of €6.3m, compared with €6.4m in the same period in 2020.
PNE generated sales of €16.1m in the first quarter of 2021 compared to €15.7m in the same period last year.
PNE said it was able to complete two wind farms with 17MW for its own wind farm portfolio taking the wind farm portfolio operated by PNE to 151.6MW in the first quarter.
In addition, at the end of the first quarter, five wind farms with a nominal capacity of 97.1MW were under construction in Germany.
PNE CEO Markus Lesser said: “This brings us step by step closer to our goal of expanding our own operations to up to 500MW by the end of 2023.
“We expect to be able to commission further wind farms for our own portfolio this year.
“These wind farms are under construction, and others are in the approval process.
“With our own operations, we want to expand the service business and make a further contribution to reducing the volatility of earnings and stabilising earnings and sales at a high level.”
The construction of wind farms on behalf of customers in Sweden has been continued, PNE said, while in Poland, two further wind farms are under construction, and one project already sold was put into operation.
In addition, PNE has entered into sales processes in Romania, France, the USA, Sweden, Poland and South Africa for already well-developed wind energy projects, some of which are expected to be completed this year.
There was also further progress in the first quarter in the development of photovoltaic projects, as PNE said it was able to expand the pipeline of projects in progress to 674MW.
Lesser added: “Accordingly, we can confirm our goals for the entire year: we expect Group EBITDA of €24-32m in respect of our guidance for the 2021 fiscal year.”