French renewable power company EdF Energies Nouvelles SA (EEN.FR) Thursday said first-half revenues more than doubled, driven by a surge at its development division.
EdF Energies Nouvelles, half-owned by Electricite de France SA (1024251.FR), said revenues rose to EUR309.6 million in the six months to June 30, from EUR123.6 million a year earlier.
Revenues from the division dedicated to development and the sale of structure assets soared to EUR120.8 million in the first half, from EUR31.7 million a year before, "owing notably to the delivery of the (94 megawatts) Goodnoe facility in the United States," the company said.
Overall revenue would have been EUR243 million without the first-time consolidation of EdF Energies Nouvelles Reparties, a unit owned jointly with EdF and specializing in onsite renewable power generation, the company said.
The company confirmed it sees 2008 earnings before interest, taxes, depreciation and amortization of at least EUR200 million.
The company also said it is on track to meet the objective of 3,000 MW of net installed capacity by the end of 2011, from 1,890 MW in service or under construction at June 30, 2008.
EdF Energies Nouvelles plans to publish interim 2008 results Aug. 29.