Wind farm operator Greencoat Renewables posts profit of €11.9m 

Company, which operates across Western Europe, said Ireland represented the majority of total revenues

The company operates 22 locations in Ireland, of which three are in Cork: Knockacummer, Garranereagh, and Ballybane. Picture: David Creedon

Windfarm operator Greencoat Renewables has reported an after-tax profit of €11.9m during the first six months of the year, after losing €68m during the same period in 2025, the company’s latest interim results show.

Greencoat Renewables operates 36 renewable energy and storage assets across Ireland, Germany, Spain, France and Sweden, generating 1.4GW of capacity. Most of these assets, 22, are located in Ireland, of which three are located in Cork — Knockacummer, Garranereagh, and Ballybane.

According to the company, during the first half of 2026 its net cash generation stood at €59.8m. In total, 1.851 gigawatt hours of renewable electricity was generated during the period, with production 6% below budget due to lower wind resources predominantly in the first quarter of the year.

“Ireland, which represents the majority of total revenues, performed in line with expectations,” the company said.

The company said its power prices “continued to be influenced by a combination of commodity markets, weather conditions, renewable penetration rates and broader macroeconomic factors”. 

However, during the first half of this year “prices were impacted by geopolitical events and the associated disruption across energy and capital markets, contributing to an increase in short-term power price expectations”.

Due to the company's high contracted revenue profile, the financial result for this period was primarily impacted by price movements relating to Germany, Sweden, and Spain.

The company said looking beyond the near-term, the outlook for “renewable generation remains supported by structural growth in electricity demand”.

“Electrification, increasing data centre demand, artificial intelligence-related workloads and industrial decarbonisation are expected to remain important drivers of power consumption over the coming decades,” it said.

Chairman of Greencoat Renewables Bernard Byrne said the first half of the year “demonstrated the resilience of Greencoat Renewables' portfolio and business model”.

“While generation was modestly below budget overall, our home market of Ireland, which accounts for the majority of the group's revenues, performed in line with expectations and underpinned strong cash generation and robust dividend cover.

“The board remains focused on disciplined capital allocation, maintaining a resilient balance sheet and delivering sustainable long-term value for shareholders, while positioning the company to benefit from the opportunities for growth arising from the energy transition.”

The company paid or declared dividends of 3.41c per share during this six-month period, and it announced a €50m share buyback in March 2026, with just over 36 million shares repurchased at a cost of €27.3m as of September 10.