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ABO Wind profits double

Sale of 100MW French portfolio key to record results at German outfit

ABO Wind profits double image

German developer ABO Wind net profit reached €8.8m for the first six months of 2017, almost double the surplus of just over €4.4m for the same period last year.

Turnover was €73.9m from January to June, up from €53.1m a year-earlier, with construction and planning activities in Germany, Finland and France each accounting for around 25% of the business volume.

The company said the sale of a 100MW portfolio of French wind farms to Czech energy supplier CEZ contributed significantly to the results.

The half-year report supports the earnings forecast for the whole of 2017, which was raised in July to at least match the €16.5m profit secured in 2016.

Managing director Jochen Ahn said: "We still expect a result at least as high as last year."

ABO Wind said it expects to commission a 1MW solar photovoltaic plant in Iran by the end of the year, its first project in the country.

"This is a new market for us, where renewable energies are still quite exotic. We are gaining valuable experience with this relatively small project," added Ahn.

Image: Pixabay

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