EDP Renewables’ net profit jumped 468% to €165m in the first nine months of 2017, up from €29m in the same period last year.
Revenue rose 11% to almost €1.35bn from just over €1.2bn in 2016, while earnings grew 17% to €991m in the first three quarters of 2017 from €847m last year.
The company said it had benefited from 10% higher output in the period than the previous year, fueled by capacity additions, which were up 8% year-on-year, and a higher than expected load factor.
EDPR said it also made gains from the sale of a stake and loss of control of a UK offshore wind project.
It had more than 10.3GW of installed capacity at the end of September, compared with almost 9.4GW at the end of the first nine months of 2016.
The company produced 19.8 terrawatt-hours in the period.
Image: EDPR
