EDP Renewables reported 2018 first-quarter revenue and earnings roughly in line with the same period last year, but net profit jumped 39% to €94m from €68m.
Profit was boosted by the settlement of the sale of non-controlling interests in assets in Brazil and Portugal to CTG, the company said.
Revenue was €528m, the same as posted in 2017, while earnings increased 2% to €381m from €373m in the first three months of last year.
Increased output in the first quarter – 8763 gigawatt-hours compared with 7719GWh – was offset by a lower average selling price for electricity, down 10% on the period in 2017, EDPR said.
Total installed capacity at EDPR topped 11GW at the end of March, up from just over 10.4GW the year before.
Image: EDPR
EDPR profit jumps 39%
By EBS