Clean power investor Thrive Renewables profit increased to more than £3m last year, compared to just over £2m the previous year.
The results were boosted by the sale of a solar park and wind farm, which helped revenue reach a record level of over £16.5m in 2018 up from more than £15.6m in 2017.
Output from the company’s portfolio was on a par with last year – around 160,000 megawatt-hours, Thrive said.
Thrive’s portfolio comprises 17 renewable projects with assets under management in excess of £117m, it said.
Thrive Renewables managing director Matthew Clayton said: “Onshore wind, solar and hydro are fast becoming some of the cheapest sources of electricity for the UK.
“The business case for building new fossil fuelled power stations isn’t there; even nuclear plant developers are reversing out of their plans, despite being offered enticing long term fixed power prices.
“The time is now for onshore clean energy. We’ve been at the forefront of innovative renewable energy business models for 25 years and our expertise is now focused on making subsidy-free a reality.”
The sale of two onshore wind farms in February totalling 13MW means the company also has an additional £11m to invest in new projects.