EDPR reports increased profitability

4C Offshore | James Bernthal-Hooker
By: 27/07/2022 EDPR
EDP Renewables (EDPR) has 1.5 GW of offshore wind in operation, as part of a 13.8 GW portfolio, and has reported a 49% year-on-year rise in profitability.

Its EBITDA for the first half of 2022 is €976 million. The company also reported an increased net profit of €265 million, up 87% on the figure last year.

In the last 12 months, EDPR reports, it has added 2.5 GW of capacity and achieved a 33% load factor. The company notes that it generated 17.8 TWh of clean energy in H1 2022, which is up 16% on the year before, avoiding 11 million tons of CO2 emissions.

 Miguel Stilwell d'Andrade, CEO of EDP Renewables, commented: "Despite the complexity of the current context, we have continued to deliver on the roadmap set out in our 2021-25 strategic plan. The solid operational results recorded in the first half of the year, with the growth of our installed capacity as well as the record capacity under construction, are a true reflection of the resilience and strength of the company. Also, we achieved a strong financial performance with significant growth, across our global footprint, not only in revenues but also in net profit. We will continue to add value to our stakeholders and to society as a whole”.

EDPR is developing offshore wind farms in the US, the UK, France, Portugal, Poland and South Korea. Its Portuguese project, WindFloat Atlantic, is the first floating wind farm in continental Europe.

For more information on offshore wind farms worldwide, click here.