Onshore wind group Triodos Renewables reports 18.6% annual increase in generation

The wind turbine at
Ness Point, Lowestoft

The wind turbine at Ness Point, Lowestoft . - Credit: Eastern Daily Press � 2012

Onshore wind power company Triodos Renewables has reported a 23% increase in annual revenue, underpinned by an 18.6% rise in electricity generation during 2014.

The figures benefited from a full year of operations from three projects constructed in 2013, with a further project which commended generation in November last year taking the company’s total portfolio to 12 sites.

Among them are the twin turbine installations at Kessingland and Eye in Suffolk and the single turbine at Ness Point in Lowestoft, England’s most easterly location.

Together, the company’s 12 sites have a generating capacity of 62.9megawattsw, enough to power more than 32,000 average homes.

Turnover for the year to December 31 grew to £12.433million. with operating profit rising by 21.7% to £6.569m. However, bottom line pre-tax profit dipped by 4.2% to £1.659m, largely reflecting increased interest payments.

A total of around 800 new shareholders invested in the company during the year, representing 16% growth in its shareholder community and bring the total number of investors to around 6,000. The Triodos board is recommending a dividend of 4p per share.

Matthew Clayton, executive director, said: ”Providing our shareholders with a rewarding connection with sustainable energy is at the heart of Triodos Renewables.

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“Growing our community of shareholders and renewable generation by 16% and 18% respectively is a very fitting way to start our 20th year of operations.

“Additionally we are delighted to have successfully commissioned a further three wind farms already this year, putting our shareholders investment to work generating more renewable energy.

“Nationally renewables are making a very real contribution, having generated almost 20% of the UK’s electricity last year, overtaking power generated by the nuclear fleet.”