Renewable energy investor Greencoat Renewables said its net cash generation jumped to €215m for the year to the end of 2022, up from €71m in 2021.
Greencoat Renewable's portfolio generated 2,487GWh of electricity during the year, up from 1,522GWh the previous year.
During the year the company bought nine wind farms, including its first offshore wind farm, and expanded into Germany, Finland and Spain. It now has a portfolio of 35 assets.
Greencoat declared a dividend of 6.18 cent per share for 2022 and said it has a target of 6.42 cent per share for 2023.
It saw successful capital raising activity in the 12 month period with gross proceeds of €281.5m raised in an oversubscribed placing.
Greencoat said its GAV (the investment value of an asset) rose to €2.227 billion in 2022 from €1.566 billion the previous year.
Ronan Murphy, non-executive chairman of Greencoat Renewables, said that 2022 was another very successful year for the company.
"We have built a portfolio of diversified technology across both onshore and offshore wind, solar, and battery, providing us with a robust platform from which to capitalise on the opportunities ahead," Ronan Murphy said.
"I am very pleased with the strong performance of the business and have great confidence that, as the transition to renewable energy across the region gathers pace, Greencoat Renewables is very well positioned to be a leading long-term owner of European renewable infrastructure assets," he added.
Shares in the company moved higher in Dublin trade today.
