Danish wind giant Ørsted is reporting a preliminary operating profit (EBITDA) of £2.6billion for 2017.
Though unaudited at this stage, the sum is larger than the wind farm developer initially projected.
Ørsted’s most recent outlook was expected to be just under £2.5billion, which the company describe as an “improvement”.
The Danish firm attribute this increase in working profit to strong earnings associated with offshore wind farms in the latter part of 2017.
Walney Extension and Race Bank, both situated off the east coast of England, were particularly profitable at the end of the year due to stronger winds than expected and faster ramp-up of generation.
The company said it also expects certain profit from its gas portfolio to impact earnings due to the strong showing of its gas in storage last year.
Ørsted, who changed its name from DONG Energy last year, further cite earnings from partnership agreements and lower construction costs on Walney and Race Bank for the increase in profits.
Ørsted will publish its annual report for 2017 on 1 February 2018.
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