Some 2,002 MW of the new capacity came from assets acquired by Acciona from Endesa when it divested its 25.01% stake in the company earlier this year , while another 896 MW came from new projects coming on stream, implying a 20% organic growth rate.

Acciona Energía contributed €404 m in EBITDA, or 55.7% of Acciona’s total pre-tax earnings of €711m. Acciona Energía’s earnings were down 3.5% compared to the same period in 2008. “The company has compensated for the strong fall – 41% - in average energy prices in Spain and weaker activity in its wind and solar industrial divisions, with an increase of 66% in its installed capacity,” Acciona said in a statement.

Meanwhile, the Acciona group’s EBITDA fell 4.8% due to the economic recession in Spain. However net profits shot up by 254.9% to €1.229 bn due to the one off effects of the sale of the Endesa stake to Enel, for which the company received €9.63 bn.

The company’s investments nearly tripled, to €3.858 bn, while its net debt fell by 58.5% to €7.424 bn, reducing its gearing to 121% from 283% at the end of the third quarter of 2008. This is a result of amortization and deconsolidation of the debt which Acciona incurred to buy the Endesa stake in 2007.