Spanish power utility Iberdrola's net profit decreased by 4.7 percent to €827.6 million in the first quarter of 2017 compared to the same quarter last year, the company announced Wednesday.
The company's net operating profit (Ebitda) attained €1.86 billion, a fall of 8.2 percent compared to the first quarter of 2016, according to Iberdrola's press release.
Iberdrola confirmed that its investments grew by 13.4 percent to €1.02 billion throughout the quarter.
'The group currently has a project pipeline of 6,500 megawatts scheduled to be commissioned by 2020, out of which 3,527 megawatts are contracted generation; 1,546 megawatts onshore wind power, 1,064 megawatts offshore wind, and 336 megawatts photovoltaic solar projects,' the press release showed.
The Spanish company together with its subsidiaries engages in the generation, transmission, distribution, retail and sales of electricity.
By Muhsin Baris Tiryakioglu
Anadolu Agency
muhsin.tiryakioglu@aa.com.tr