Renewable energy investor Greencoat Renewables said its portfolio generated 745GWh for the six months to the end of June, up from 688GWh the same time last year.
Greencoat said this translated to €40.2m of net cash generation.
During the six month period, Greencoat completed deals to buy the Cordal, Co Kerry and Glencarbry, Co Tipperary wind farms.
It said this increased its portfolio to 23 wind farms, total installed capacity to 685.6MW and Gross Asset Value (GAV) to €1.442 billion as at 30 June 2021.
The company this year become the largest owner of operational wind assets in Ireland, powering over 500,000 homes. It also saved about 590,000 tonnes of carbon emissions otherwise emitted by thermal generation.
Greencoat also marked its successful entry into the Nordic wind market with the commitment to acquire the 43MW Kokkoneva wind farm, once operational, in the second quarter of next year.
The company said it was holding its target dividend unchanged at 6.06 cent per share for 2021. "This is supported by our continued cash generation and proportionally high dividend cover," it added.
Rónán Murphy, Non-Executive Chairman of Greencoat Renewables, said that the past six months have been a successful period for Greencoat Renewables, marked by a strong operational performance and continued expansion into Europe, including its first investment into the Nordic market.
"The overall outlook for the company remains positive, with good dividend cover, appropriate gearing, and the ability to pursue a strong near and medium term pipeline of opportunities in both Ireland and Europe," Mr Murphy said.
