The loss comes against the backdrop of what it says was one of the weakest northern European wind periods on record.
The group’s interim results show a post-tax loss of €68m for the six months ended June 30, 2025, compared with a €34.6m profit a year earlier.
The company’s chairman, Rónán Murphy, said strong cash generation will support payment of a dividend.
“Against the backdrop of one of the weakest northern European wind resource periods on record, the portfolio generated a total of 1,830 gigawatt hours of clean energy with cash generation amounting to €68.7m, supporting dividend payments of €37.7m,” he said.
Greencoat Renewables generated 1,927 gigawatt hours over the same period last year.
Across the six-month period, the group agreed the disposal of a portfolio of Irish assets for €156m which it said represented a 4pc premium to its last reported book value with proceeds allocated towards debt repayment.
It also announced a new 10-year Power Purchase Agreement (PPA) with Keppel DC REIT, who are a real estate producer for data centres, and the appointment of former Davy chief executive Bernard Byrne as non-executive director.
“The rapid rise in data-centre demand driven by AI has continued to accelerate across Europe and we were pleased to sign our second PPA with Keppel DC REIT in the period, Mr Murphy added.
Additionally, the firm took what Mr Murphy described as “an innovative step” to broaden its investor base and improve liquidity by creating a secondary listing on the Johannesburg Stock Exchange.
Davy analysts described Greencoat as well positioned to translate its strategic positioning into consistent returns thanks to the increase in exposure to structural trends such as AI-led data centre demand and favourable market dynamics in Ireland.
“GRP continues to align with key structural trends, including the accelerating demand for clean energy from AI-driven data centre growth.
“In Ireland, where data centres could drive one-third of power demand within a decade, GRP’s market position offers strong returns potential,” analysts said.
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