Abo Wind's solar push drives record results

GERMANY: Offering solar PV project development alongside its wind portfolio was a key contributor to Abo Wind Group's record 2017 financial results.

Germany-based developer Abo Wind is looking to international markets and solar PV for growth

"In countries like France, Spain and Argentina, where we already have a good name as wind specialists, we are now active as solar developers," the German company stated.

"This increases our opportunities and reduces risk because things are easier in what are already our core markets."

Abo Wind generated its highest-ever net profit at €17 million in 2017, up from €16.5 million in 2016, with more than half of it coming from markets outside Germany.

Revenue grew from €122 million in 2016 to €147 million in 2017. Project installation accounted for 75% of the total, with 19% in planning services and sale of project rights, and 6% in other services.

The group installed 145MW of wind and 2MW of solar projects in 2017, and sold 236MW of turnkey wind projects and 100MW of projects under development.

At the end of 2017 it had onshore wind and solar pipelines of 2.6GW and 340MW respectively.

Founded in 1996, Abo Wind is active in 16 countries having recently added Colombia, South Africa and Tunisia to its portfolio. To date it has commissioned 1.4GW of wind projects, and operates 505 turbines with a total capacity of 1.2GW.