Net profit for the year ended June 30 rose to $25.7 million, from $1.5 million in the previous year.
The fund listed in June 2007 and had forecast a net profit for the year of $20.5 million in its offer documents.
Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled $92.9 million, up 17.4 per cent up from its forecast for $79.1 million.
The fund, which was spun out of Transfield Services Ltd, increased its full year revenue by 27.9 per cent to $182.07 million, which was also 45.6 per cent higher than its forecast for revenue of $125.95 million.
The fund has an interest in five power stations, four wind farms and two water filtration plants across Australia.
Looking ahead to 2008/09, chief executive Steve MacDonald said said the fund would look at possible bolt-on acquisitions but said they would need to be "exceptional" for any deal to proceed.
MacDonald said the fund is increasingly moving into wind farms and that any federally-imposed carbon trading regime would be relatively benign in terms of earnings.
"Wind farms are the most commercial form of renewable energy," he said during a teleconference.
"We've acquired four wind farms, which have provided the fund with a leading position into the growing renewable energy sector.
"And revenue growth via renewal of contracts, further diversification and balance to the portfolio ... and we have access to a deal pipeline."
The exception is the fund's 14.03 per cent stake in the Loy Yang A power station in Victoria.
Loy Yang A supplies 25 per cent of that state's electricity through extracting and burning brown coal.
The fund said on Friday that that its debt was 87 per cent hedged at an interest rate of 8.32 per cent.
Gearing at June 30 was 60 per cent.
The fund, which is 49 per cent owned by Transfield Services Ltd, declared a final distribution of nine cents per unit.
That brought the total distribution for the financial year to 18.5 cents per unit.
The fund's stapled securities closed up 3.5 cents at $1.305.
The securities have trended down some 47 per cent since the fund's initial public offering.
