MADRID, 26 Oct. (EUROPA PRESS) -
EDP Renewables (EDPR) obtained a net profit of 416 million euros in the first nine months of the year, which represents an increase of 181% compared to the same period last year, when the company recorded a profit of 148 million euros, the company reported.
The group indicated that this benefit was partially offset by the increase in net financial costs, which amounted to 296 million euros (58% year-on-year), due to the increase in debt, foreign exchange and the cost of debt.
The gross operating result (Ebitda) of the company at the end of September stood at 1,482 million euros, 62% more than in the same period of the previous year.
EDP's 'green' subsidiary indicated that these net results were driven by the 10% growth in installed renewable power, amounting to 14.3 gigawatts (GW), the strong recovery of the average price of energy sales to 66 euros/MWh (29% year-on-year), mainly in the European markets, and the positive contribution of the completion of three asset rotation transactions in Spain, Poland and Italy, which generated a profit of 264 million euros.
EDPR also continues to deliver on its growth plan, reaching a record level of over 4 GW of renewable energy capacity under construction spread across 15 markets around the world while providing further technology diversification.
Likewise, it increased gross investments by 4,400 million euros, allowing it to expand its international presence to 28 international markets, through operations such as the acquisition of Sunseap.
With regard to operating results, they also maintain positive growth thanks to the increase in installed capacity and the strengthening of renewable energies.
As of today, of the additional 20 GW target set for the 2021-2025 period, EDPR has already managed to secure 10.8 GW -55% of the target-, with more than 40% of the target already installed or under construction.
In addition, the company has also been able to execute its asset turnover early, with €3.4 billion of the total €8 billion revenue target already secured, with deals that are creating double the value per MW defined in its business plan.
EDPR's CEO, Miguel Stilwell d'Andrade, highlighted that the company "is well positioned to face the challenges of the energy transition, as it has achieved 55% of the renewable capacity it wants to develop between 2021 and 2025" .
"In the first 9 months of this year, and in a delicate context in the energy sector, we have invested more than 4,000 million euros in renewable energy projects," he added.
