EDF Energies Nouvelles, the renewables arm of French utility Electricite de France, has reported consolidated revenues of E283.4 million for the first nine months of 2007, representing an increase of 9.9% compared to the first nine months of the previous year. At constant exchange rates, revenues grew by 14.6%.
The generation segment, which represents the group’s core business and key profitability driver, continued to grow at a rapid pace. Its revenues reached E41.8 million during the third quarter, resulting in an increase of 27.4% over the first nine months of the year at E129.7 million. This growth, which was driven to a great extent by wind energy generation, was nonetheless impacted by a much lower level of hydro production during the first nine months of 2007 than in the same period of 2006.
The operations & maintenance (O&M) segment posted revenues of E7.5 million in the nine months to September 30, 2007, including E3.5 million specifically for the third quarter. Three major O&M contracts covering 479 turbines with a total capacity of 718MW were signed in the US during the quarter.
The development and sale of structured assets segment recorded revenues totaling E146.2 million over the nine months to September 30, including E114.5 million during the third quarter. In line with previous announcements, some of the revenues related to the Pomeroy (198MW) and Goodnoe (94MW) projects in the US were posted in the third quarter, but the bulk of revenues from these two facilities is expected during the fourth quarter.