February 17 (Renewables Now) - The renewables unit of Norwegian group Bonheur ASA (OSL:BON) on Friday reported a net profit of NOK 86 million (USD 9.3m/EUR 8.6m) for 2019, down from NOK 286 million the previous year.
The segment includes Fred. Olsen Renewables (FORAS) and its unit Fred. Olsen Green Power AS. FORAS has 51% stakes in eight wind farms in Scotland, and 100% in three plants in Scotland, Norway and Sweden. The combined capacity of the power plants is 679 MW.
The segment's results for the period are in the following table.
|All in NOK million||2019||2018|
|Net result after tax||86||286|
|Power generation (in GWh)||1,728||1,767|
In addition to its operational capacity, Fred. Olsen also has a portfolio of onshore wind projects under development in the UK, France, Norway and Sweden, and offshore wind projects in Irish and US waters. A 105-MW wind farm in Sweden is under construction and due to be completed in December, but there may be a delay in the turbine delivery because of the coronavirus, the company noted.
(NOK 1.0 = USD 0.108/EUR 0.099)