The amount of renewable energy assets owned by Greencoat Renewables rose last year, leading to an increase in electricity generation.
The company’s results for the year ending December 31, 2022, show that its portfolio generated 2487GWh of power, up from 1522GWh in 2021.
In addition, nine wind farms were added to Greencoat’s portfolio, bringing its total assets to 35, and its net producing capacity rose to 1164MW. The business’ capacity was 800MW in 2021.
Together with its first offshore wind farm, the corporation bought its first assets in Germany, Finland, and Spain.
Greencoast’s net cash generation increased from €71 million in 2021 to €215 million in 2022.
Non-Executive Chairman of Greencoat Renewables, Ronan Murphy, said “2022 was another very successful year for Greencoat Renewables and I am very pleased that the business continued to deliver strong returns to shareholders.”
“We achieved a number of significant milestones, with the acquisition of nine wind farms, including our first offshore wind farm, and expansion into Germany, Finland and Spain. We have built a portfolio of diversified technology across both onshore and offshore wind, solar, and battery, providing us with a robust platform from which to capitalise on the opportunities ahead.”
“I am very pleased with the strong performance of the business and have great confidence that, as the transition to renewable energy across the region gathers pace, Greencoat Renewables is very well positioned to be a leading long-term owner of European renewable infrastructure assets.”
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