The Acciona Energia unit posted pre-tax profit (Ebit) of €38m ($43.3m) for the January-June period, almost half the figure for the same quarter a year earlier.

The Madrid-based group said the dip came as divisional revenue fell 10% to €573m, with better load factors at its wind and hydro fleet failing to outweigh lower power prices in Spain and the US.

Acciona