EGP – which is basing its strategy around growth markets outside Europe – made a net €342m ($377m) in the January to June period, up from €293m at the same stage in 2014.

The group delivered a 20.6% boost in earnings before interest, tax, depreciation and amortisation (Ebitda) to €1.08bn on revenues 13% higher at €1.59bn.

EGP had swelling Latin American, and to a lesser extent North American, capacity to thank for driving up total output to 17.2TWh,