Innogy has reported earnings from renewables more than 43% up at €239m ($267m) for H1 2019, thanks to new capacity, pricing effects, good weather and improvements to its existing sites. The company said it had installed a record number of wind turbines in the first half of 2019 – 1,780, compared with 1,050 last year. That figure had doubled YoY and the company’s output rose from 4.8 billion kWh to 5 billion kWh. However, total earnings fell from €1.55bn to €1.3bn and net income was down from €622m to €488m because of falling UK retail earnings and the sale of a Czech gas business.
Innogy has reported earnings from renewables more than 43% up at €239m ($267m) for H1 2019, thanks to new capacity, pricing effects, good weather and improvements to its existing sites. The company spent €349m on its renewables operations, mainly the UK offshore sites Triton Knoll and Sofia. That figure had doubled YoY and the company’s output rose from 4.8 billion kWh to 5 billion kWh. However, total earnings fell from €1.55bn to €1.3bn and net income was down from €622m to €488m because of falling UK retail earnings and the sale of a Czech gas business.