Visit for the latest on our upcoming conferences and webcasts



EDP announces 26% Q1 profit increase

PORTUGAL: EDP Renovaveis has announced a 26% rise in net profits for Q1 on the back of higher prices and better performance.

EDP, which owns US developer Horizon Energy, said its net profit rose to €62 million ($80 million) against a forecast of €54 million.

Revenue for the period increased by 22% to €346 million. Additionally, electricity output and wind capacity rose by 18% and 9% respectively.

The announcement follows the Portuguese government's sale of a 21.35% stake in EDP to Chinese state-owned energy group China Three Gorges (CTG).

The Portuguese government approved the Chinese company's €2.7 billion offer ahead of lower bids from Germany's E.on and Brazilian generators Electrobras and Cemig. The 21.35% stake makes CTG the largest shareholder in Portugal's principal electricity generator and wind-power developer.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Latest Jobs