BREMEN (dpa-AFX) - The wind and solar farm operator Energiekontor is raising its profit target for the 2023 financial year, mainly due to the sale of a wind farm project in Scotland and the generally good project business, as the company announced in Bremen on Friday evening. As expected, investors on the stock market reacted positively to the change in forecast on Monday.

The Energiekontor share price climbed at times in the morning by more than nine percent to EUR 77. At midday, the share was still up eight and a half percent, making it by far the leader in the small-cap index SDax. In the long term, things are still going well for the Bremen-based company in the growth sector of renewable energies: Over the past five years, the share price has increased almost six-fold.

Compared to the previous year, the management is now aiming to increase pre-tax earnings by around 30 to 60 percent to between 80 and 100 million euros. Previously, earnings before taxes (EBT) were planned to increase by 10 to 20 percent. The Group plans to publish its figures for the current financial year on March 28.

The onshore wind farm sold is the Garbet project near the town of Dufftown in the north-east of the Highlands of Scotland. The buyer is a fund of the asset management company Capital Dynamics. According to Group CEO Peter Szabo, Energiekontor has already implemented several infrastructure projects with Capital Dynamics in recent years. The wind farm is scheduled to go into operation by the end of 2026 and generate a total output of up to 46 megawatts.

Energiekontor was founded in Bremerhaven in 1990. The company plans, builds and operates wind farms and solar parks in Germany and abroad. In its own portfolio, the Group operates 40 wind and solar parks with a total nominal output of over 390 megawatts.

Capital Dynamics focuses on private assets, including green energy, private equity and private debt. The company has assets under management and advisory of more than 14 billion US dollars (12.8 billion euros)./lfi/stw/tih