Nov 12, 2013 - NRG Yield Inc (NYSE:NYLD), part of US utility NRG Energy Inc (NYSE:NRG), reported a third-quarter 2013 net profit of USD 16 million (EUR 12m) from its renewable energy division, compared to USD 3 million a year ago.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the business, which includes the company’s solar parks and certain wind assets, rose to USD 35 million from USD 10 million in the same period of 2012.
Renewable energy generation amounted to 263 GWh as compared to 109 GWh after several solar projects reached completion.
NRG Yield, which owns and runs solar, wind, thermal and conventional power plants in the US, this summer completed a USD-495-million initial public offering (IPO) in New York. Today it reported a consolidated net profit of USD 40 million for July-September 2013, compared to USD 4 million a year ago. Adjusted EBITDA grew to USD 83 million from USD 29 million and revenues more than doubled to USD 95 million from USD 47 million.