EDP Renewables announces 2% growth in net income in 2022

EDP Renewables (EDPR), has announced a 2% growth in net profit for the year 2022 to €671 million. This performance is due to a 10% increase in the company’s renewable energy production and its asset rotation strategy, despite higher financial and operational costs than in 2021. 424 million from the sale of five renewable energy portfolios in several countries. Revenues also increased by 35% in 12 months to €2.4 billion, with 99.5% aligned with the European taxonomy.

Expanding EDPR’s global footprint

In 2022, EDPR expanded its global footprint by integrating Sunseap and its assets in eight Asia-Pacific markets. The company also strengthened its presence in Europe by acquiring the solar energy company Kronos and continuing to develop projects in its various geographic presences. To accelerate the energy transition in the four regions where it operates (North America, South America, Asia-Pacific and Europe), EDPR has almost doubled its gross investments to €5.1 billion and plans to install an additional 2.1 GW of renewable capacity by 2022 and 4.0 GW under construction.

Flexible dividend proposed to shareholders

With respect to the 2022 dividend, EDPR will offer its shareholders a flexible program, called Scrip Dividend, which will increase EDPR’s payout ratio, offering shareholders a more attractive and competitive remuneration. This proposal will be discussed at the General Assembly.