EDP Renewables made a net profit of €75m in the first quarter of 2016, up 32% on the same period in 2015.
Revenues hit €508m an increase of 22% on the first three months of 2015.
The company said the increase was mainly down to “higher capacity in operation and the outstanding load factor”.
Earnings before interest, taxes, depreciation and amortization was up 29% year-on-year to €379m, “reflecting the positive impact from the top-line and the 2% decrease in operating costs per average MW in operation”, EDPR said.
EDPR managed a global portfolio of 9.7GW spread over 10 countries at the end of March.
The company has added 672MW to its installed capacity in the last year, of which 398MW were in the USA.
Electricity production increased by 30% on the first quarter of 2015 to reach 7.5TWh, as a result of the “positive effect of new capacity addition and an excellent load factor which stood at 38%, compared to 34% in the first quarter of 2015”, the company said.
Image: EDPR’s Cadafaz wind farm in Portugal (EDPR)
