EDP Renovaveis SA (ELI:EDPR) saw its recurring net profit increase 12% year-on-year to EUR 467 million (USD 495.9m) in the first nine months of 2023.
The renewables arm of Portuguese utility EDP – Energias de Portugal SA (ELI:EDP) said on Tuesday that the recurring earnings before interest, tax, depreciation and amortisation (EBITDA) went down by 3% to EUR 1.44 billion.
EDPR’s performance was driven by higher production because of higher capacity in operation and from the company’s asset rotation gains from deals in Spain and Poland. On the other hand, EDPR was negatively affected by lower wind production in the US and non-recurring regulatory clawbacks in Europe.
In the period under review, EDPR raised its total installed capacity by over 0.8 GW to 15.1 GW worldwide. The company also achieved 5.2 GW under construction.
(EUR 1.0 = USD 1.062)
