EDP Renewables (EDPR) has achieved a net profit of 265 million euros in the first half of 2022, 87% more than last year. EBITDA was 976 million euros, up 49% interannually, and EBIT amounted to 640 million euros, 76% above last year.
This performance, supported by the 16% increase in generation compared to last year, was driven by additional installed capacity and stronger renewable resources. EDPR has also reached a record capacity under construction of 3.2 GW as of June 22 (with 1.8 GW of wind and 1.3 GW of solar), on the back of new capacity to be added in 2022 and 2023.
Installed capacity increased to 13.8 GW (up 1.2 GW interannually), with Europe and North America representing 40% and 51% of the portfolio, respectively. EDPR now has a higher technology diversification with 12.2 GW of wind onshore, 1.3 GW of solar and 1.5 GW of gross wind offshore in operation.
EDPR generated 17.8 TWh of clean energy in 1H22 (up 16% interannually), with Europe and North America representing 36% and 57% of total generation output, respectively. In Europe, generation increased 10% compared to last year, impacted by higher installed capacity and a stable renewable resource. In North America, output is up 12% interannually, reflecting better renewable resources in the US and Canada. In South America, production increased 111% compared to the previous year, driven by higher installed capacity in Brazil, partially offset by lower renewable resources.