Wind and solar energy group Greencoat Renewables said it generated a total of 1,830 GWh of renewable electricity in the six months to the end of June, down from 1.927 GWh the same time last year.
Greencoat Renewables said the period under review was statistically a low-wind year across Northern Europe.
It reported gross cash generation of €68.7m, down from €113.6m the same time last year.
It added that dividends of 3.41 cents per share will be paid or declared with respect to the period, in line with the full year dividend target.
During the six month period, Greencoat agreed the disposal of a portfolio of Irish assets for €156m which it said represented a 4% premium to its last reported book value with proceeds allocated to debt repayment.
It also agreed a new 10-year Power Purchase Agreement (PPA) with Keppel DC REIT - its seventh PPA since it launched its re-contracting strategy.
Rónán Murphy, non-executive Chairman of Greencoat Renewables, said the first six months of the year have been a busy and pro-active period for the company with clear strategic progress and good operational performance, notwithstanding ongoing challenges in the wider environment.
"In the period, we took an innovative step to broaden our investor base and improve liquidity through a secondary listing on the Johannesburg Stock Exchange. In addition, we agreed a reduction in our management fees, effective 1 April 2025," Mr Murphy said.
He said the European renewables sector has proven to be resilient, underpinned by binding government commitments to decarbonisation, accelerating corporate demand for clean energy, and the convergence of digital and energy.
"Greencoat Renewables' diversified portfolio and active asset management approach position us well, despite current challenges, to capitalise from significant long-term sector growth," he added.
