Innogy reported adjusted earnings before interest and tax (EBIT) of €194m in the first nine months of 2017, down more than 20% from the €244m posted in the same period last year.
The German company said the fall was mainly down to below-average wind and rainfall this year.
In addition, the depreciation of the UK pound Sterling against the euro also had a negative impact, as did one-off positive effects from last year.
Power generation from renewables was down more than 10% to 6.9 billlion kilowatt hours, from 7.7 billion kWh last year.
Revenue from renewables at the company grew 22% to €682m by the end of September, compared with €559m in 2016.
Innogy said a positive impact was felt by the commissioning of new onshore wind farms and the full consolidation of the Belectric solar developer, which was acquired in early 2017.
The company added that it expects the 332MW Nordsee 1 offshore wind farm in the German North Sea to be fully commissioned in the fourth quarter of the year.
It will also grid-connect more turbines from the 353MW Galloper offshore project in the UK to grid.
However, Innogy expects the renewables division to close 2017 “slightly down” on 2016.
Overall, the company posted adjusted EBIT of just over €2bn, up 8.7% on the more than €1.8bn reported in the first three months of 2017.
Image: Nordsee 1 (Innogy)
Weather hits Innogy earnings
Low wind and rainfall cut renewables EBIT 20% in first nine months of 2017
By EBS