Profit Spikes at Vattenfall’s Wind Division

Vattenfall’s Wind division posted an underlying operating profit of SEK 1.9 billion (EUR 182.5 million) in the first nine months of 2018, a 153% increase compared to SEK 752 million reported for the same period in 2017.

The increase was largely attributed to additional capacity, as well as positive price and currency effects.

Vattenfall’s latest capacity additions include the 97MW European Offshore Wind Deployment Centre (EOWDC) in Scotland and the Sandbank wind farm in the German North Sea (72MW of 288MW).

Electricity generation for the period grew from 5.1TWh to 5.3TWh.

The generation increased mainly as a result of new capacity, which was partially offset by unfavourable wind conditions, Vattenfall said.

In addition, the third quarter of 2017 was negatively impacted by grid outages and cable issues, which affects comparability with the third quarter in 2018.