Revenue at EDP Renewables was up 15% to €889m in the first half of 2016, compared with the same period last year.
The company said the growth was on the back of increased installed capacity and a higher load factor, both offsetting the 7% drop in average selling price during the first six months of the year.
In the last six months, EDPR said it had added 84MW to its existing installed capacity, with the company’s total operating portfolio now standing at 9.7GW across 10 countries.
EDPR added that a further 656MW is under construction, with 429MW of that in the US, 200MW in Mexico and 28MW Europe.
It said between January and 30 June, some 13.3TWh of electricity was supplied, up 23% on the 10.8TWh in the same period last year
The company’s earnings before interest, taxes, depreciation and amortization was up 18% on same period last year at €648m, as a result of “solid revenue performance and the drive to control costs”.
Adjusted net profit between 1 January and 30 June was up 9% at €78m, the company added.
EDPR chief executive officer João Manso Neto said: “We have had an excellent start to the year, giving us a clear view of what lies ahead in ensuring the successful implementation of our 2016–2020 business plan.”
Image: EDPR
