Terna Energy's H1 2017 net profit grows 94.3% Y/Y

Greek renewable power producer Terna Energy (ATH:TENERGY) last week reported a first-half 2017 net profit after minority interest of EUR 10.3 million (USD 12.1m), up 94.3% in annual terms.

The improved results came as the company boosted its revenues in the six months, mainly thanks to growing income from electricity production. Terna Energy’s revenues from the sale of renewable power stood at EUR 78.8 million, rising 18.5% on the year.

The following table gives more details about the company’s performance in the reporting period.

Terna Energy, part of the GEK Terna Group of companies, had 786 MW of installed power capacity at the end of June, including 759 MW of wind farms. Of the total, 516 MW is at home, 138 MW is in the US, 102 MW in Poland and 30 MW in Bulgaria. The company said it is currently building or is ready to start construction of 194 MW of renewable energy plants in Greece and abroad. It operates, is building or has full licensing of 980 MW of renewable energy projects in Europe and America, it added.

Terna Energy's long-term goal is to have 2,000 MW of installed renewable power capacity.

(EUR 1.0 = USD 1.177)

Choose your newsletter by Renewables Now. Join for free!