Portugal

Portugal

EDPR reports jump in 2019 profits

EDP Renovaveis’ net profit in 2019 was 52% higher at €475 million, thanks principally to a 27% rise in Ebitda to almost €1.65 billion and the sale of wind assets in Europe and the US.

João Manso Neto, CEO, said the firm is 'steadfast in our commitment' to the energy transition
João Manso Neto, CEO, said the firm is 'steadfast in our commitment' to the energy transition

Google Translate

Total proceeds from the sell-down were €989 million and the company earned an additional €47 million from a higher average selling price compared to 2018 and a further €89 million from improved wind resource and forex transactions.

The sell-down of assets also helped EDPR reduce its net debt by 8% to €2.8 billion.

João Manso Neto, CEO, said the firm is "steadfast in our commitment to keep growing responsibly and to make a decisive contribution to the energy transition".

He highlighted the company's expansion into the Colombian market where EDPR was awarded 490MW in two 15-year PPA contracts at a government auction last October.

Commercial operations are due to start in 2022.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in