Lithuanian wind farm operator reports 40% profit growth

A wind turbine
A wind turbine, Shutterstock photo.

“We have the best INTER RAO Lietuva Group’s financial results in the last five years. The better wind conditions and technical improvements done by the Group led to one of the best results at Vydmantai wind park since its establishment in 2006,” said Giedrius Balčiūnas, CEO of INTER RAO Lietuva.

He said the electricity generated by the Lithuanian wind farm reached 68.55 GWh, 20% more than in 2014.

“The company’s net profit margin during the year improved from 5.87 % to 10.08 %”, said Balčiūnas.

The Russian company Inter RAO holds a majority stake in the Lithuanian company via RAO Nordic, with Lithuanian investor Scaent Baltic holding a 29% stake.

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