EDP Renewables (EDPR) EBITDA increased 46% in the first quarter of 2022 to €394m, compred with the same period last year, while EBIT jumped 83% to €232m.
The increased were mainly driven by a “better top line evolution on the back of excellence operational performance from base portfolio”, the company said.
EDPR achieved a net profit of €66m in the first quarter of 2022, 75% above the previous year.
This figure was partially offset by higher taxes, financials and higher non-controlling interest, among others.
EDPR now currently holds a portfolio of operating assets of 14GW, of which 13GW fully consolidated and 1.1GW equity consolidated (Spain, Portugal, US, Asia-Pacific and offshore).
In Q1 2022, EDPR added a total of 465MW of wind and solar capacity, out of which 450MW fully consolidated, specifically 46MW in Europe, 3MW in North American and 401MW in Asia-Pacific.
Equity consolidated increased by 15MW due to new solar projects in Asia-Pacific.
Capacity additions were mainly driven by the successful integration of Sunseap assets in Asia-Pacific, which now represent 3% of the EDPR’s portfolio.
EDPR said it also had 2.4GW of capacity under construction as of March 2022, of which 1.569MW related to wind onshore and 805 to solar technology.
EDPR chief executive Miguel Stilwell d’Andrade said: “The results reflect our solid growth and our strong positioning as a global market leader.
“We now have platforms in all key growth regions, our team has grown stronger and more cohesive, and 50% of the capacity targeted under our strategic plan for 2021-2025 has been secured.
“We are prepared to carry on leading the energy transition.”