Neoen S.A. (NEOEN.PA)

Neoen's 1st-quarter revenue jumps 42% on added capacity

French renewable power producer Neoen on Tuesday reported 42% revenue growth in the first quarter, boosted by recent capacity additions to meet growing demand for renewable energy. Neoen, which specialises in solar farms, onshore wind and energy storage, said revenue rose to 154.4 million euros ($169.65 million), primarily driven by wind and solar farms that started generating income. "The growth in our revenue, which outstripped even the increase in our power generation, shows the very large top-line contribution made by our recent capacity additions," Chief Executive Xavier Barbaro said in an earnings statement.