EDP Renewables’ growth plan can be achieved with its record 4GW of renewable energy capacity. 15 markets around the world are under construction, giving it greater diversification.
Sustained growth
The Portuguese company’s growth plan includes gross investments of €4.4 billion. They allow it to increase its international presence in 28 different national markets through acquisitions such as Sunseap. In addition, EDP Renewables continues to generate value through its asset rotation program.
The operating results also show growth, due to the increase in installed capacity and the strengthening of renewable energy products. This installed capacity of 14.3GW leads to a stable operational performance. Recently, the company successfully achieved 10.8GW of the additional 20 GW target set for the period 2021-2025.
EDP Renewables by over 40% of its target already installed or under construction. In addition, according to the growth plan, the company is completing its asset rotation ahead of schedule. Already €3.4 billion of the $8 billion revenue target is being realized.
Financial results
In the first nine months of 2022, EDP Renewables’ EBITDA increases to €1482 billion. The growth plan benefits from a 10% increase in installed capacity. In addition, it recorded a 14% increase in the production of renewable energy.
On the other hand, operating income increased to €331 million. This represents a year-over-year gain of $129 million. These figures result from asset rotation transactions concluded in Poland, Spain and Italy.
Finally, net profit increased to €416 million, representing a year-on-year gain of 181%. These results are partially offset by higher net financial costs. The growth plan raises this increase due to the increase in debt, the exchange rate and the cost of debt.
