Unveiling its first-quarter financial results, PNE’s chairman Martin Billhardt said the German industry had “substantial concerns” over early drafts of government reforms to the country’s renewables law, or EEG.

But Billhardt said: “With the help of industry associations and state governments, it was possible to prevent unreasonable changes.”

The final version, currently passing through Germany’s parliament, softens plans to count all repowering capacity to an annual cap and eases some cuts to onshore wind feed-in tarffs.

PNE said it came near to breaking even on its operations in the first quarter of 2014, which saw a big year-on-year jump in sales to €32.9m