Renewables developer Greencoat UK Wind more than trebled profits in 2018 despite generation output falling 6% short of expectations.
The London outfit notched full year profits after tax of £202.4m, more than three times the £59.9m posted a year earlier.
The company said its 32 wind farms owned at of 31 December 2018 generated 2,003 gigawatt-hours, lower than forecast due to low wind speeds.
Greencoat UK Wind invested a total of £364.4m in acquisitions to boost its generating capacity to 836MW from 694MW and increased the number of sellers from whom we have acquired wind farms to 12.
Chairman Tim Ingram said the company would continue to acquire wind farms.
“Our pipeline of acquisition opportunities remains very healthy and we continue to expect the majority of future investments to be made from the £50bn pool of UK wind farms accredited under the Renewable Obligation regime,” he added.