EDPR increases its gross investment in renewable energy to over 4 billion euros

EDP Renewables, the world’s fourth largest producer of wind and solar energy, has reported its end of third quarter results. The company announced an EBITDA of 1.482 billion euros and a net profit of 416 million euros. 

“EDPR is well and truly on target with its ambitious growth plan owing to its record 4 GW renewable energy capacity under construction in 15 markets around the world, likewise, providing the company with broader technological diversification. In parallel to all of this, gross investments in the amount of 4.4 billion euros have enabled EDPR to increase their international presence across 28 different national markets via acquisitions such as that of Sunseap. Additionally, EPPR have been able to carry on generating value via their asset rotation programme, closing three transactions in Spain, Poland and Italy which have contributed to the creation of 264 million in profit,” a company statement revealed.

Miguel Stilwell d’Andrade, CEO of EDP: “EDPR are in a very strong position to deal with all the challenges presented by the energy transition, and we have already achieved 55% of the renewables capacity we set out to develop for the 2021 to 2025 horizon. During the first nine months of this year and even given the bumpy business context the energy sector finds itself in we were able to invest over 4 billion euros in renewable energy projects”.