Oct 13, 2011 - French solar and wind power group Aerowatt (EPA:ALWAT) reported today a net attributable loss of EUR 1.035 million (USD 1.42m) for the first half of 2011 versus a profit of EUR 423,000 a year earlier.
The company attributed the loss to the significant increase of financial costs stemming from investments carried out over the last few years.
At the same time, however, Aerowatt's revenue soared by 90% to EUR 13.72 million.
Aerowatt said that its proceeds from the sale of green energy remained below expectations due to unfavourable weather conditions. At the same time, however, other proceeds were on the rise thanks to the construction of plants for third parties, the group explained.
Aerowatt is an independent renewable energy producer which operates mainly in the solar and wind power sectors. As at end-June 2011, the company operated 25 wind power plants with an installed capacity of 106 MW and 28 solar sites with a capacity of 16 MWp.
(EUR 1.0 = USD 1.373)