EDF Energies Nouvelles' O&M division posts €9.1m in first half

Revenues recorded by the Operations & Maintenance division of EDF Energies Nouvelles during the first half of this year rose to €9.1 million from €4 million a year ago.

According to EDF Energies Nouvelles, the key factor behind this increase were last year's major operations & maintenance agreements in the US covering 868 MW in capacity.

Overall, the company reported consolidated revenues of €309.6 million for the first half of 2008, up from €123.6 million one year earlier, representing an increase of 150.5 percent.

During the first six months of the year, EDF Energies Nouvelles commissioned 294.6 MW in capacity, including 38 MW in Greece (Imerovigli and the Profitis Ilias extension), 192 MW in Portugal (first and second tranches of the Ventominho project), 50.6 MW in France (Villesèque) and 14 MW in the United Kingdom (Walkway). All segments combined, the Group's capacity at 30 June 2008 stood at 1,735.2 MW gross and 1,219.6 MW net, with wind accounting for 1509.2 MW gross and 1055 MW net.

In addition, capacity under construction at 30 June 2008 amounted to 1,116.9 MW gross and 670.4 MW net. The main projects are located in France, Portugal and the US.

The company confirmed its target of at least €200 million in EBITDA during the 2008 financial year, despite the increasingly negative impact of exchange rate fluctuations. It also confirmed that it is on track to meet its objective of having 3,000 MW in net installed capacity by year-end 2011, since it had 1,890 MW in service and under construction at 30 June 2008.