popular articles

EDP Renewables records 12% growth in 2023

EDP Renewables' recurring net income for the first 9 months of 2023 was up 12% on the same period in 2022, with major investments in Europe and North America.
EDP renewables

Please share:

The EDP Renewables Group (EDPR) announces a significant increase in recurring net income in the first nine months of 2023. This represents growth of 12% over the same period last year, demonstrating the company’s financial strength.

Major investments in Europe and North America

EDPR’s investments totaled 3.4 billion euros over the period, with a major concentration in Europe and North America. These investments have contributed to the expansion of the company’s solar and wind power capacities, reinforcing its role in the energy transition.

Financial performance in September

In September, EDPR posted a net profit of 467 million euros, up 12% on the previous year. The company’s EBITDA totaled €1,437 million, with an overall improvement in performance in several regions, despite lower contributions from North America.

Environmental and regulatory impact

EDPR’s performance is attributable to increased production, due to the expansion of operating capacity, as well as to gains from asset rotation, thanks to two transactions concluded in Spain and Poland. However, it was impacted by environmental phenomena such as El Niño, which reduced wind generation in the United States, and by regulatory recoveries in Europe.

Capacity expansion and increased debt

In the first nine months of 2023, EDPR invested nearly 3.4 billion euros, with over 80% of its CAPEX concentrated in Europe and North America. The company increased its installed capacity by over 0.8 GW during this period, taking its portfolio to 15.1 GW worldwide.

Asset rotation strategy and technological diversification

EDPR’s net debt increased by €1.1 billion compared with end-2022 due to investments aimed at accelerating the energy transition in the regions where it operates, partially offset by a capital increase. EDPR’s asset rotation strategy was also implemented, with transactions in Spain, Poland, Brazil and the UK, including the 50% stake in Ocean Winds.

Commitment to decarbonization and sustainable development

EDPR is actively committed to decarbonizing the economy by accelerating the deployment of renewable energies and diversifying its technological mix. During this period, the company installed 669 MW of solar projects, in addition to 162 MW of wind projects. In addition, the first 16 MW of storage were commissioned, contributing to the achievement of global decarbonization objectives.

Finally, EDPR reached 5.2 GW of capacity under construction, reinforcing its position as a leader in the renewable energies sector. The company has also secured almost 55% additional capacity through Power Purchase Agreements (PPAs) with businesses and utilities, contributing to the ongoing expansion of its business.

EDP Renewables continues to grow and play a key role in the global energy transition. With significant investments, increased solar and wind power capacity, and strategic partnerships, the company remains committed to decarbonizing the economy and promoting renewable energies.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Shell plc recorded a net profit of $4.8bn in the first quarter of 2025, down 35%, but above analyst expectations, supported by solid operational performance and a new share buyback programme.
TC Energy is committing CA$2.4bn to two major projects in North America, targeting rising energy demand and the long-term value of regulated assets.
TC Energy is committing CA$2.4bn to two major projects in North America, targeting rising energy demand and the long-term value of regulated assets.
Air Products reports a substantial loss in Q2 of fiscal 2025, driven by charges tied to a strategic review of its US project portfolio.
Air Products reports a substantial loss in Q2 of fiscal 2025, driven by charges tied to a strategic review of its US project portfolio.
Prospera Energy closed fiscal year 2024 with a notable increase in revenue and a strategic reorganisation of its assets, while reinforcing its performance on the financial market.
Prospera Energy closed fiscal year 2024 with a notable increase in revenue and a strategic reorganisation of its assets, while reinforcing its performance on the financial market.
Voltalia’s revenue rose by 2% in the first quarter of 2025, driven by third-party services, while energy production reached 1.1 terawatt-hours due to improved resources in Brazil.
Brookfield Infrastructure raised $1.6bn in the first quarter of 2025 by completing multiple asset sales while reporting a 5% increase in funds from operations.
Brookfield Infrastructure raised $1.6bn in the first quarter of 2025 by completing multiple asset sales while reporting a 5% increase in funds from operations.
Facing a U.S. import ban and a sharp sales decline, Maxeon Solar Technologies is now focusing its efforts on the American market.
Facing a U.S. import ban and a sharp sales decline, Maxeon Solar Technologies is now focusing its efforts on the American market.
Technip Energies posted a double-digit growth in Q1 2025, supported by a record order backlog of €18.2bn ($19.46bn), despite regulatory uncertainties in the United States.
Technip Energies posted a double-digit growth in Q1 2025, supported by a record order backlog of €18.2bn ($19.46bn), despite regulatory uncertainties in the United States.
Spanish group Iberdrola saw its net profit fall in the first quarter despite a moderate revenue increase, impacted by an unfavourable base effect linked to the 2024 asset sale in Mexico.
The Exeltium consortium, composed of 24 electro-intensive industrial firms, seeks to finalise a new power supply deal with EDF before summer to succeed the original Exeltium 1 agreement.
The Exeltium consortium, composed of 24 electro-intensive industrial firms, seeks to finalise a new power supply deal with EDF before summer to succeed the original Exeltium 1 agreement.
Atlantic Petroleum signed a conditional agreement to reduce its debt by at least DKK90mn ($12.8mn), while posting a modest net profit of DKK1.4mn marks a return to financial balance.
Atlantic Petroleum signed a conditional agreement to reduce its debt by at least DKK90mn ($12.8mn), while posting a modest net profit of DKK1.4mn marks a return to financial balance.
Neoenergia sells 50% of the Itabapoana Transmission asset to GIC for $24.8mn, integrating the assets into their joint holding company without changing their shareholding structure.
Neoenergia sells 50% of the Itabapoana Transmission asset to GIC for $24.8mn, integrating the assets into their joint holding company without changing their shareholding structure.
BP announces a sharp drop in quarterly profit, as Elliott Management intensifies its demands to improve the British oil group's financial performance.
Galp recorded a net profit of €192mn in the first quarter of 2025, down 41% year-on-year, while ramping up investments in oil exploration and renewable energy projects in Namibia, Brazil and Portugal.
Galp recorded a net profit of €192mn in the first quarter of 2025, down 41% year-on-year, while ramping up investments in oil exploration and renewable energy projects in Namibia, Brazil and Portugal.
Reliance Industries is committing $18 billion to expand its new energy and petrochemical projects, with major industrial infrastructures under construction in India.
Reliance Industries is committing $18 billion to expand its new energy and petrochemical projects, with major industrial infrastructures under construction in India.
Spire Inc. announced the immediate appointment of Scott Doyle as president and chief executive officer and member of the Board of Directors, succeeding Steve Lindsey.
Spire Inc. announced the immediate appointment of Scott Doyle as president and chief executive officer and member of the Board of Directors, succeeding Steve Lindsey.
Electricity network operator Enedis has initiated disciplinary proceedings against nine employees and filed a new complaint with the National Financial Prosecutor's Office amid an investigation into false invoicing.
SBM Offshore announces the launch of its €141 million ($150 million USD) share repurchase program, following the completion of the €130 million program, as part of its strategy to reduce capital and support employee programs.
SBM Offshore announces the launch of its €141 million ($150 million USD) share repurchase program, following the completion of the €130 million program, as part of its strategy to reduce capital and support employee programs.
Air Liquide anticipates a limited direct impact from global tariff hikes, while expecting an increase in its operational margin for 2025, despite weak demand in certain industrial sectors.
Air Liquide anticipates a limited direct impact from global tariff hikes, while expecting an increase in its operational margin for 2025, despite weak demand in certain industrial sectors.
Eni announces a 3% drop in its net profit for the first quarter, with savings planned to offset falling oil prices and uncertainty surrounding tariffs. The company expects reduced investment spending in 2025.
Eni announces a 3% drop in its net profit for the first quarter, with savings planned to offset falling oil prices and uncertainty surrounding tariffs. The company expects reduced investment spending in 2025.
Chinese giant Sinopec publishes its first international global energy outlook, forecasting a peak in primary energy consumption by 2045 and a rise in non-fossil energy sources.
TotalEnergies’ Antwerp platform plans to end operations of one steam cracker by late 2027, while continuing investments in green hydrogen and sustainable fuels.
TotalEnergies’ Antwerp platform plans to end operations of one steam cracker by late 2027, while continuing investments in green hydrogen and sustainable fuels.
Shanghai Electric has secured strategic partnerships with Masdar and Mawarid Group for large-scale solar and wind projects, strengthening its industrial presence in the Middle East.
Shanghai Electric has secured strategic partnerships with Masdar and Mawarid Group for large-scale solar and wind projects, strengthening its industrial presence in the Middle East.
Weaker North American market conditions weighed on Halliburton's quarterly results, despite strong international activity and revenues exceeding analysts’ expectations.
Weaker North American market conditions weighed on Halliburton's quarterly results, despite strong international activity and revenues exceeding analysts’ expectations.

Advertising