New wind farms help Futuren boost 2017 revenues

French wind power producer Futuren SA (EPA:FTRN) on Tuesday reported a 9% year-on-year rise in 2017 revenues to EUR 61.8 million (USD 76.8m) thanks to growing sales of electricity.

The company, majority owned by Electricite de France SA’s (EPA:EDF) unit EDF Energies Nouvelles, explained that its business was positively impacted by the commissioning of 31 MW of wind power capacity and favourable weather conditions in the last three months of 2017.

Revenues from electricity sales, Futuren’s core business, climbed by 15% to EUR 56.9 million and accounted for 92% of the company’s total revenues last year. The company carries out electricity sales under long-term contracts of between 15 years and 20 years with guaranteed tariffs.

Revenue from the development and management of wind farms came at EUR 4.8 million, down 33% as compared to 2016 when the firm registered non-recurring revenue linked to third-party development services.

Futuren said it is building three wind parks in France, having a combined capacity of 54 MW, that are expected to be switched on in 2018 and 2019.

(EUR 1.0 = USD 1.243)

Choose your newsletter by Renewables Now. Join for free!