Renewable energy investor Greencoat Renewables said it generated a total of 3,754 GWh of electricity last year, up from 2,487 GWh in 2022.
Greencoat said its portfolio produced renewable energy to power about 750,000 homes, which it said saved about 1.3 million tonnes of CO2 emissions and committed €1.3m to local communities and social projects.
The company's net cash generation for the year fell to €196.7m from €215m in 2022 but its cash revenues rose by 15% from €330.6m to €379.2m.
During the year it completed four acquisitions totalling €524.3m, which increased Greencoat's portfolio to 39 renewable generation and storage assets across six European markets.
The company has declared a dividend of 6.42 cent per share, in line with its stated target.
Greencoat said its GAV (the investment value of an asset) rose to €2.621 billion from €2.227 billion in 2022.
Ronan Murphy, Non-Executive Chairman of Greencoat Renewables, said the company reported another positive year, with continued strong cash generation underpinning dividend cover and providing long term support for its reinvestment strategy.
"In deploying more than €500 million into four new assets, we have further diversified the portfolio and increased our generation capacity to 1.5GW across six European markets," Mr Murphy said.
"Proactive revenue management has enabled us to deliver a number of power purchase agreements confirming that the Company is delivering on its strategy of maintaining a high contracted revenue mix," he said.
"Despite the continued presence of macro-economic headwinds, the opportunity and investment case for renewables remains strong. The company remains wholly committed to the disciplined allocation of capital and, with a highly cash generative and pan European portfolio, is well positioned to continue to play a critical role in energy transition, whilst delivering attractive low risk returns for shareholders," he added.
