Acciona Energy revenues fell 10.6% to €573 million. EBITDA decreased 11.7% to €213 million. The results reflected the low electricity prices in Spain, which averaged €30.7/MWh in the first quarter and led to a 9.2% drop in revenues and a 14.5% drop in EBITDA from generation activities in Spain.
As a result, Earnings before Tax at the division fell more than 40%, from €65 million to €38 million. At an operational level, consolidated production increased to 5,038GWh, 1.5% higher than in Q1 2015 due to the higher wind load factor in Spain and, to a lesser extent, a higher hydro load factor which compensated the lower solar resource as well as a lower international wind production. During the last twelve months, consolidated installed capacity increased by 53MW (30MW wind in Poland, 4MW wind in Spain and 19MW solar PV in Chile).
