PARIS: French wind power producer Futuren SA today reported an 11% year-on-year rise in consolidated revenues for the first quarter of 2016 to EUR 19.6 million (USD 22.1m).
Revenues from electricity sales grew at a stronger rate of 17%, reaching EUR 17.9 million. The increase was due to the commissioning of a 21-MW wind farm in November 2015 and to favorable wind conditions in France. Revenue from the development and management of wind farms, meanwhile, fell 29% to below EUR 1.7 million.
The year-ago figures have been restated to account for the fact that the company no longer controls wind park owner Breeze Two Energy.
Futuren, previously known as Theolia, currently has 31 MW under construction at two wind projects in France, due to be completed by the end of 2016. The company also said it planned to start construction of a 21-MW project at the start of 2017. Overall, it has a pipeline of 187 MW of authorised or under-construction projects.
Futuren operates a total of 714 MW for its own account and for third parties. The company posted net profit for the first time in 2015.
