Renewable energy investor Greencoat Renewables almost doubled in value last year as it continued to invest in new wind farms.
The company had a market capitalisation of €747.3m at the end of 2019, an increase of 91% year on year.
It generated net cash of €48.8m and said it will pay out €33m in dividends for last year.
During the year, the company made a further investment in its Cloosh Valley wind farm and also bought three new wind farms, which increased its portfolio to 15 wind farms in total.
The purchases also increased its net generating capacity to 462MW.
Greencoat said it generated 1,154GWh of electricity last year, 4% below its budget due to higher than expected curtailment.
Ronan Murphy, the company's non-executive chairman, said that 2019 represented another period of growth and delivery for the company.
"On the operational side, I am pleased by the steps taken to further enhance performance and availability. As was expected when we laid out our strategy for aggregation, the increasing size of our asset base is creating further opportunities for improvement, and we expect this trend to continue as the market and associated technologies mature," Mr Murphy said.
He said the additions to the company's portfolio this year demonstrate the strength of its relationships with developers and co-investors, as well as its ability to transact at all levels of the market.
Mr Murphy also said that the company continues to find value in Ireland, and increasingly in continental Europe.
"The pipeline for further growth looks attractive across a range of geographies and markets," he said.
"Given the performance and outlook, I am pleased to confirm an increase in our target 2020 dividend
to 6.06 cent consistent with our commitment to a progressive dividend policy," he added.
