Renewable energy firm Airtricity has reported pre-tax profits of €18m for the 15 months to the end of March 2006.
Revenues for the 15 months jumped by 185% from €127m to €236m, while gross profits rose from €20m to €38m.
The company said that growth in revenue was driven by its expansion, which has seen power generated at operating wind farms increase from 64mw in 2004 to 177mw in 2006. Customer numbers have also increased 72% from 36,000 to 50,000 over the 15 months.
Airtricity said that there are currently wind farms under construction which will yield 444mw while 6,000mw of new projects are under development.
In 2006, Airtricity said it had commissioned an additional 93mw in the Republic of Ireland, including the country's largest wind farm at Meentycat in Co Donegal. The company also commissioned its first wind farm in Northern Ireland, at Tappaghan, Co Fermanagh.
'Airtricity will think out new solutions to place wind energy in the forefront of mainstream electricity supply,' commented company CEO Eddie O'Connor.
'Electricity prices are rising worldwide. Wind generated electricity allows Airtricity to offer a completely different product to the usual fossil fired products,' he added.
