Vattenfall has reported underlying operating profit in its wind business rose by 9% in the first quarter of 2024 compared with the same period of 2023.
First quarter 2024 underlying operating profit was Skr2.6bn (E224m) compared with Skr2.3bn in the same period of 2023, driven mainly by higher volumes and lower costs.
Electricity generation increased by 32% in first quarter 2024 compared with 2023, driven by higher volumes from new wind farms Hollandse Kust Zuid and Vesterhav Syd as well as higher volumes from offshore wind in Germany.
The sale of the Norfolk Offshore Wind Zone in the UK to RWE was completed in March and a capital gain of Skr4.6bn was recorded.
In February, all 21 turbines of the Vesterhav Nord Offshore wind farm were connected to the electricity grid
During March, the final unit of the Windplan Blauw array (123MW capacity) was installed.