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Portugal

Portugal

Revenue up by 21% for EDPR in 2015

PORTUGAL: EDP Renováveis has revealed a 21% increase in revenues to €1.5 billion for its last financial year as the developer focuses its investment on the Americas.

The 96MW Terra Fria project, part of EDPR's Portugese portfolio
The 96MW Terra Fria project, part of EDPR's Portugese portfolio

An 8% rise in generation, higher prices and the absorption of assets from the Portuguese ENEOP wind power consortium helped EDP Renováveis increase revenues by 21% to €1.5 billion and net profits by 32% to €166 million in 2015.

Last year, EDPR installed 398MW of new wind capacity in the US and 190MW in Europe.

Of the 344MW under construction by the Portuguese company in December 2015, 320MW is in Brazil and Mexico, compared with just 24MW in Europe.

Almost three quarters of the company's capital expenditure is in North America reflecting a growth strategy "based on markets with stable regulatory frameworks and long-term contracts", EDPR said.

In January 2016, however, EDPR win a 93MW contract in a Spanish government auction of 500MW.

EDPR was the only major operator to acquire new capacity under a system based on market prices without premium tariffs introduced by the Spanish government in 2014.

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