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EDF EN announces positive results for 2010

FRANCE: EDF Energies Nouvelles (EDF EN), the renewables arm of French utility EDF, has posted better than expected results for 2010 thanks to strong growth in its wind and solar generation capacity.

Earnings before interest, taxes, depreciation and amortization rose by 36.2% to €455.1 million at year end, ahead of the group's objective of €430 million. Net income was also up by 8.4% to reach €106 million.

EDF EN added 273MW gross installed wind capacity in 2010, giving a total of 2923MW, of which 2247MW is on its own account. It reports 918MW gross capacity under construction and 564MW net.

Overall, the group's generation business increased 27.3% to 6133GWh. This was boosted by the full-year contribution of the 106MW Hoosier wind plant in the US and 247MW brought online in Europe.

However, "growth in wind-generated electricity was curbed by a modest full-year effect in Europe owing to the timing of project commissioning," the company says.

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