Irish renewable energy group NTR has announced losses of €210.6m after tax for the year ended 31 March. This compared to a loss of €22.4m in 2009.
In its financial results released today, the group reported earnings of €30.8m, down from €35.5m in 2009 in its core businesses, Greenstar Ireland and Greenstar North America.
However, it spent €106.5m on development and central overheads, compared to €75.6m in 2009.
Its sustainable waste management and solar businesses contributed to the loss with an impairment charge of €147.9m.
In its statement today, the group said it would be recommending a final dividend of 4.94 cent per ordinary share.
NTR also highlighted a number of development milestones it achieved, such as the construction of a $340 wind farm in the US, which it said came in ahead of schedule and under budget.
It said it had raised €125m through its sale of Greenstar UK, and other road assets.
Jim Barry, NTR Chief Executive, said: 'Our investments remain in sectors that have firm medium-term growth and we have the financial strength to take advantage of their upturn.'
