E.ON’s Offshore Wind Division Posts Mixed Results

Image source: E.ON

E.ON’s Offshore Wind/Other division generated 2.1 billion kWh of electricity in the first half of 2017, on a par with the results reported for the first half of 2016.

The company’s owned generation was at the prior-year level as well, reaching 1.7 billion kWh.

Owned generation in Germany was higher due to better wind conditions at Amrumbank West wind farm, although this was partially counteracted by grid congestion, E.ON said.

The output of the company’s wind farms in the United Kingdom declined in the first half of 2017 owing to unfavorable wind conditions at the start of the year. This was partially offset by higher availability, according to the company.

The generation from the jointly owned power plants was also at the prior-year level and stood at 0.4 billion kWh.

The company’s Offshore Wind/Other division’s sales and adjusted EBIT decreased by EUR 12 million and EUR 73 million, respectively, mainly because of the adverse effect of unfavorable wind conditions in the United Kingdom and the non-recurrence of a book gain recorded in the prior-year period, namely, the sale of the stakes in wind farms.

The division recorded EUR 321 million in sales and EUR 128 million in adjusted EBIT in the first half of 2017.

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