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Windtech International May June 2024 issue

 

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EDP Renewables (EDPR) has increased its operating portfolio in the first half of the year reaching 12.6 GW, which means that it has 2.1 GW more than in the same period of the previous year.
 
Of this total, 11.7 GW are fully consolidated and 841 MW equity consolidated (stakes in projects in Spain, Portugal, USA, as well as offshore projects). EDPR has added a total of 691 MW of wind and solar capacity since December 2020, of which 648 MW have been fully consolidated, namely 83 MW in Europe, 537 MW in North America and 28 MW in Asia-Pacific.
 
EDPR has closed the sale of a 68% stake in an operating wind portfolio of 405 MW in the US (275 MW net). In total, the net change in EDPR's consolidated portfolio was an additional 415 MW. As of 30 June, EDPR had 2.9 GW of new capacity under construction: 2,195 MW of onshore wind, 421 MW of solar and 269 MW of participations in offshore wind projects.
 
The company's revenues declined 6% year-on-year to EUR 856 million. This decrease is explained by the impact of sales (EUR -69 million year-on-year), the lower average selling price (EUR -22 million year-on-year), mainly due to Spain and the US and unfavourable currency translation (EUR -38 million year-on-year), which were not offset by the additional MW of capacity (EUR +61 million year-on-year) and the higher wind resource (EUR +11 million year-on-year). As a result, EBITDA declined 13% year-on-year to EUR 654 million in the first half. EBIT amounted to EUR 364 million. These factors also had an impact on net profit, which reached 142 million euros, 44% less than in the same period of the previous year.
 
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