German developer PNE recorded its best first-quarter Ebitda in the company’s history: €15.8 million, more than double earnings in the same period one year ago.
CEO Markus Lesser explained that greater power production and higher power prices drove the company’s earnings in Q1.
At the end of the first quarter, the wind farm portfolio operated by PNE had a capacity of 233.2MW. In early April, the portfolio was expanded to 252.6MW.
PNE expects full-year Ebitda of €20-30 million.