Interim report on the first quarter 2020

Good wind conditions create increase in sales

The year 2020 did not begin as projected due to weak wind conditions in January. February, on the other hand, brought stormy weather and a production record that surpassed the monthly target by 43 percent. The strong winds kept coming in March and enabled W.E.B to conclude the first quarter on the positive side. In comparison to the first quarter of the previous year, the generated sales revenue increased by 10 percent. 

The measures aimed at containing the spread of Covid 19 did not affect the results of the first quarter. Nevertheless, lower electricity prices in consequence of the Covid-19 measures could negatively affect the annual results of 2020 as well as subsequent years. The resulting effects depend on the further development of market prices. 

Within the scope of the SME Energy Transition Partnership, W.E.B put three photovoltaic systems with a total capacity of 277.1 kWp in Litschau, Wieselburg and Vienna into operation in early 2020. In France, the Covid-19 measures stopped construction work on the Tortefontaine wind farm in mid-March; with construction resuming in April, the wind farm could be put into operation by Q3 2020.

Any other consequences of Covid-19 on project development mostly depend on the individual measures to contain the pandemic put into place in the respective countries. For this reason, a few approval procedures might take more time and certain projects are expected to be delayed.