Net profit at EDP Renewables fell 66% to €56.3m in 2016, compared with almost €167m in the previous year.
The company said the drop was the result of debt pre-payment and restructuring, write offs and provisions in 2016 and one-off gains made in 2015 from the acquisition of certain assets.
Revenue at EPDR was up 7% to just over €1.65bn in 2016, from almost €1.55bn in 2015.
The increase was mainly down to more capacity coming online, but was impacted negatively by a lower selling price, the company said.
In 2016, EDPR installed 820MW, of which 629MW was in North America, 120MW in Brazil and 72MW in Europe.
The company currently has almost 10.41GW in its global portfolio, with 10.33GW onshore wind and 82MW of solar.
A further 248MW is under construction – 127MW in Brazil and 100MW in the US, with the remainder in Europe.
Output rose 14% to 24,473 gigawatt-hours in 2016, compared with 21,388GWh in 2015.
EBITDA was up 3% to more than €1.17bn last year from €1.14bn the previous year.
Image: EDPR
