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2015/04/24

EDP Renováveis will release its 1Q2015 annual results on may 6th, before market opening.

EDP Renováveis will release its 1Q 2015 results on May 6th, before market opening. On the same day, at 3 pm Madrid (2 pm UK/Lisbon time), João Manso Neto, CEO, will host a conference call and webcast presentation.

Click here to register for the conference call.

Conference ID:
952878

Dial-In number:
UK +44 (0)20 7162 0177
US +1 334 323 6203

The conference call will have a replay service available starting on May 6th until May 13rd, 2015.
Dial-In for replay: UK +44 (0) 20 7031 4064 | US: +1 954 334 0342 | Access Code: 952878

 

On April 22nd 2015, Great Place to Work (GPTW) celebrated its third edition of the awards ceremony for the top 50 companies that comprise the Best Workplaces Spain 2015 list. For the fourth consecutive year, EDP Renováveis is the only company in the energy sector that integrates this exclusive list, reaching on this occasion the eighth position in the company ranking within its category (companies with 250 to 500 employees).

On April 22nd 2015, Great Place to Work (GPTW) celebrated its third edition of the awards ceremony for the top 50 companies that comprise the Best Workplaces Spain 2015 list. For the fourth consecutive year, EDP Renováveis is the only company in the energy sector that integrates this exclusive list, reaching on this occasion the eighth position in the company ranking within its category (companies with 250 to 500 employees).

The event, which brought together over 500 people, once again underlined how important it is for employees of any company to recognize the company as a great place to work, regardless of their sector and size.

Each year GPTW prepares the Best Workplaces list through a meticulous analysis, evaluation and certification process. 305 companies with different numbers of employees and from several sectors including hotels, automotive, services, banking and pharmaceuticals, among others, were analyzed this year. The energy sector was represented only by EDP Renováveis, which surpassed the score obtained in 2014 by 9 points.

The study is based mainly on the employees’ perception about their company but also on the organization’s corporate culture, through its HR policies and processes. The purpose of this list is to identify companies that can be considered a benchmark for other organizations.

The methodology that the model applies is based on a two-fold analytical procedure consisting of a questionnaire that employees must complete (Trust Index), which represents two-thirds of the global score of the process, followed by an analysis of the organization’s corporate culture, which is conducted by HR and represents one-third of the remaining score.

EDP Renováveis consolidates for the fourth consecutive year its position among the best companies to work for.

RA2014_en
2015/02/25

EDP Renewables FY 2014: revenues totalled €1,277 million, net profit reached €126 million The company’s operating portfolio, distributed over 10 countries, reached 9.0 GW in 2014. In 2014 the company executed more than 60% of its cumulative asset rotation target (€0.7bn) for 2014-2017. EDPR proposes a dividend distribution of €0.04 per share, reflecting a 28% […]

EDP Renewables FY 2014: revenues totalled €1,277 million, net profit reached €126 million

  • The company’s operating portfolio, distributed over 10 countries, reached 9.0 GW in 2014.
  • In 2014 the company executed more than 60% of its cumulative asset rotation target (€0.7bn) for 2014-2017.
  • EDPR proposes a dividend distribution of €0.04 per share, reflecting a 28% pay-out ratio.

Madrid, 25 February 2015: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, announced today that its electricity output increased by 3% (YoY) to 19.8 TWh in 2014, on the back of capacity growth (+0.6 TWh) and stable wind resource YoY. Over the last 12 months, the company added 471 MW to its installed capacity, of which 70% was in the US. By 2014 year-end, EDPR reached a total portfolio of 9.0 GW spread over 10 countries. Of this total, 82 MW related to solar PV power plants in Romania, the US and Portugal.
In 2014 EDPR was able to maintained a stable YoY load factor of 30%, reflecting the benefit of a balanced portfolio across different geographies and the intrinsic quality of EDPR’s wind farms, and thanks to the company’s unique wind assessment know-how.

FY 2014 revenues totalled €1,277 million (a YoY decrease of €40 million) due to lower selling prices in Europe and forex translation (-€3 million, mainly BRL). EBITDA decreased €17 million YoY to €903 million due to the regulatory changes in Spain, while rest of portfolio delivered solid performances (+9%YoY). EBITDA margin increased to 71%, reflecting an increase in operational efficiency, with Operating Costs decreasing by €18 million YoY, and mitigating the negative impact from the top-line.

Net Financial Expenses in 2014 were 5% lower YoY, amounting to €250 million. The net interest costs increased by 3% YoY, as a result of a higher average net debt (+4% YoY) along with a stable cost of debt (5.2% in Dec-14). Pre-Tax Profit amounted to €194 million and income taxes decreased to €16 million, due to the positive effect of the approved corporate tax reform in Spain impacting deferred tax assets and liabilities (€30 million).

Net Profit decreased 7% YoY to €126 million. Non-controlling interests in the period totalled €52 million, an increase of €18m YoY on the back of non-controlling interests sold to CTG (Jun-13) in the context of the EDP strategic partnership, and to Fiera Axium (Sep-13), Axpo Group (Oct-13), EFG Hermes (Oct-14) and Northleaf (Nov-14) as part of the execution of the asset rotation strategy.

In 2014, Operating Cash-Flow reached €707m (+4% YoY), on the back of EDPR quality assets and operational excellence. Net investments reached €515m, benefiting from the execution of the asset rotation. In the year, cash available for growth and distributions totalled €413m, and on top of that EDPR cashed-in proceeds from the asset rotation (€215m) and institutional tax equity financing structures (€217m) concluded in 2014. As of Dec-14, Net Debt summed €3.3bn, in line with Dec-13 and despite the negative impact of forex translation (€170m).

Of particular note is the fact that the company continued to execute efficiently its asset rotation strategy with a cumulative asset rotation target of €0.7 billion for 2014-2017. In 2014, EDPR executed more than 60% of said target.
2014 also saw the company commence operations in two new markets. The company executed the project finance for its first project in Canada (South Branch project, Ontario, 30 MW) and entered the Mexican wind-energy market after an agreement with Industrias Peñoles, a leading Mexican mining company.

Also, and in line with the current dividend policy, the Board of Directors will propose a dividend distribution at the ASM of €35 million, or €0.04/share, reflecting a 28% pay-out ratio.

Presentation

About EDP Renewables (EDPR)

EDP Renewables (Euronext: EDPR), headquartered in Madrid, Spain, is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 12 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, Poland, Portugal, the UK, Romania and Mexico). Energias de Portugal, S.A. (“EDP”), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX).

For more information, please visit www.edpr.com.

diaEolico_site
2015/02/19

8th Wind Power Day The Wind Power Developers Association of Castilla y León (APECYL) will be organizing the 8th edition of Wind Power Day with the sponsorship of EDP Renewables. The session will cover the main topic “Wind Power 2015, new skills for new rules” and will take place on February 25 at the Palacio […]

8th Wind Power Day

The Wind Power Developers Association of Castilla y León (APECYL) will be organizing the 8th edition of Wind Power Day with the sponsorship of EDP Renewables. The session will cover the main topic “Wind Power 2015, new skills for new rules” and will take place on February 25 at the Palacio de los Serrano (Ávila).

The first part of the session will focus on the debate about the new skills that are required in the area of operation and maintenance and the markets and will see the participation of project development managers from EDP Renewables and Gas Natural Fenosa as well as technologists from Vestas and Gamesa and representatives from OMIE, AXPO and Goiener.
The second part of the discussion will focus on the future of wind power in light of the new energy scenario. On this occasion, several authorities from the Castilla and León Regional Government and REE will be present. Mr. Federico Ramos, Secretary of State for Environment will be closing the event.

More information please click here: apecyl.com

2015/02/17

EDP Renováveis will release its 2014 annual results on februrary 25th, before market opening.

Madrid, February 17th 2015: EDP Renewables will release its 2014 annual results on february 25th, before market opening.
On the same day, at 15:00 pm Madrid (14:00 pm UK/Lisbon time), João Manso Neto will host a conference call and webcast presentation.

The conference call will have a replay service available starting on February 25th, 2015 until March 4th, 2015.
Dial-In for replay: UK +44 (0) 20 7031 4064 | US: +1 954 334 0342 | Access Code: 951533

For the replay service click here

EDP Renováveis, S.A. 

villa-castelli
2015/02/11

Madrid, 09 February 2015: In 2014 EDPR reached an important milestone in this area, by certifying more than 3,500 MW* in the United States, which means 88% of our assets are certified as per the ISO 14001 and OHSAS 18001 standards. Aware of the importance of adequately managing the environmental aspects affecting its assets and in […]

Madrid, 09 February 2015: In 2014 EDPR reached an important milestone in this area, by certifying more than 3,500 MW* in the United States, which means 88% of our assets are certified as per the ISO 14001 and OHSAS 18001 standards.

Aware of the importance of adequately managing the environmental aspects affecting its assets and in line with its commitment to continuous improvement in terms of environmental and health and safety performance, EDPR had developed and implemented in 2008 an Environmental Management System (EMS) and a Health & Safety Management Plan, based on the ISO 14001: 2004 and OHSAS 18001:2007 standards respectively.

At present, all of EDPR facilities in operation across Europe have both certificates, which translates into over certified 4,000 MW* distributed across different geographical regions: Spain, Portugal, France, Belgium, Poland, Romania and Italy. Furthermore, in 2014 EDPR reached an important milestone in this area, by certifying more than 3,500 MW* in the United States, which means 88% of our assets are certified as per the ISO 14001 and OHSAS 18001 standards.

In Europe, the process automation and system integration strategy has made it possible for the EMS to become integrated into the Prosafety software tool in 2014. This tool, which until now has been in use by the Health & Safety department, allows for more effective and collaborative systems that help achieve company-wide engagement.

The implementation of these management systems help us drive improvements in our processes, which allows us to work more safely and with a lower environmental impact.

*Includes windfarms with CoD before December 2013 and excludes ENEOP.

About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR), Headquartered in Madrid, is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 12 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, Mexico, Poland, Portugal, the UK and Romania).

Energias de Portugal, S.A. (“EDP”), the majority shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX).

For more information, visit www.edpr.com

2014/11/17

Madrid, 13 November 2014: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, today announced that, through its fully owned subsidiary EDP Renewables North America LLC, was awarded by the New York State Energy Research and Development Authority (“NYSERDA”) with two 20-year sale agreements for […]

Madrid, 13 November 2014: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, today announced that, through its fully owned subsidiary EDP Renewables North America LLC, was awarded by the New York State Energy Research and Development Authority (“NYSERDA”) with two 20-year sale agreements for Renewable Energy Credits (“RECs”), comprising a total of 155 MW of new capacity to be installed in 2017 in the state of New York, US.

These agreements are subject to a new extension of the Production Tax Credits (“PTC”). The current PTC scheme was signed in January 2013, and allowed wind energy projects that have begun construction before January 1st, 2014 to benefit from a 10-year PTC ($23/MWh) on its electricity output.

These long term sale agreements demonstrate EDPR’s strategy of focus on developing quality projects and adapting its pipeline to capture opportunities on- time. The effectiveness of these agreements will increase the visibility and reinforces the low risk profile of EDPR 2014-17 business plan, resulting in more than 90% of the new capacity additions in the period based on projects with long term agreements or Feed-in tariff awarded.
About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR), Headquartered in Madrid, is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 12 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, Mexico, Poland, Portugal, the UK and Romania).

Energias de Portugal, S.A. (“EDP”), the majority shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX).

For more information, visit www.edpr.com

2014/10/29

Madrid, 29 October 2014: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, today announced that in the first nine months of 2014, the company delivered 14.4 TWh of clean energy, an output increase of 5% YoY (+0.6 TWh), on the back of capacity growth […]

Madrid, 29 October 2014: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, today announced that in the first nine months of 2014, the company delivered 14.4 TWh of clean energy, an output increase of 5% YoY (+0.6 TWh), on the back of capacity growth (+0.4 TWh), as well as a stable wind resource YoY (+0.2 TWh), with a 9M14 load factor of 29%.

As of 30 September 2014, EDPR managed a total installed capacity of 8.6 GW spread over 10 countries. Over the past 12 months EDPR added 373 MW to its total installed capacity.

In 9M14, revenues totalled €930m (-4% YoY) on the back of a lower selling price for electricity in Europe and forex differences (-€10m, mainly USD and BRL). EBITDA decreased 6% YoY to €648m (70% EBITDA margin).

The average selling price in the period was 8% lower YoY (€59/MWh). The positive impact of the increase on the average selling price in North America (+4% YoY) and Brazil (+11% YoY) was offset by the lower average selling price in Europe (-13% YoY), mainly due to regulatory changes in Spain.

EBIT fell by 11% YoY as a result of EBITDA performance and the 1% YoY increase in depreciation and amortisation costs (including impairments and net of government grants).

All in all, Net Profit decreased 45% YoY to €56m, and Adjusted Net Profit also decreased 43% YoY to €56m (adjusted for non-recurring events, forex differences and capital gains).

In the 9M14, the Operating Cash-Flow totalled €549m (stable vs. 9M13), higher than the net investments in the period (€244m) and the payments to PP&E suppliers (€158m).

There were significant milestones in the third quarter of 2014 that confirm, among many other achievements, the excellent path the company is following. The asset rotation programme is already 60% executed (€0.4bn) as of 30 September 2014, thanks mainly to the last two major asset rotation transactions conducted by the company: The sale of a minority cash equity interest in a US wind portfolio to Fiera Axium in August 2014; and the sale of an equity shareholding and outstanding shareholders loans in an operating wind farm portfolio to a fund led by EFG Hermes in October.

Completion of both transactions is subject to regulatory approval and other conditions. The execution of these transactions position EDPR a step closer to its asset rotation target to be met in 2017. The company also achieved operating excellence with an availability rate of 97.5% and a robust management of costs.

The company will continue to forge ahead based on the three cornerstones of its strategic plan 2014-2017: selective growth, operating excellence and a self-funded business.

About EDP Renewables (EDPR)

EDP Renewables (Euronext: EDPR), Headquartered in Madrid, is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 12 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, Mexico, Poland, Portugal, the UK and Romania). Energias de Portugal, S.A. (“EDP”), the majority shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX).

1 UC
2014/10/09

The winning project was presented by students from Universidad Rey Juan Carlos in Madrid – “Development of an erosion resistant coating with self-healing properties for wind blades” The ceremony was hosted by João Manso Neto, CEO EDP Renewables Madrid, 8 October 2014: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and […]

The winning project was presented by students from Universidad Rey Juan Carlos in Madrid – “Development of an erosion resistant coating with self-healing properties for wind blades”

The ceremony was hosted by João Manso Neto, CEO EDP Renewables

Madrid, 8 October 2014: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, and the EDP Foundation, in Spain (Fundación EDP), have announced the winner of the EDPR University Challenge 2014 for students of Spanish universities. The awards ceremony was hosted by João Manso Neto, CEO EDPR.

The five shortlisted groups presented their projects to the audience and the judging panel, which was formed by EDP Renewables executives such as José Ángel Díaz, Technical Support Director; Joaquín García Boto, Head of Project Development for Spain; Ceferino Viescas, Operations and Maintenance Director for Europe. José López-Tafall, President of AEE (Spanish Wind Power Association), and Telmo Vieira, a Partner at Premivalor Consulting, also formed part of the judging panel.

The winning project was entitled “Development of an erosion resistant coating with self-healing properties for wind blades” and was entered by Héctor Sanz Fraile, Israel Arrabé Murillo, Alejandro Doblas Molano and Beatriz Claudia Recio Martínez, students from Universidad Rey Juan Carlos in Madrid, and supervised by Alberto Jiménez Suárez, a professor at the university.

The projects awarded second and third place, were Harnessing onshore marine energy-remora project (device to harness wave power) presented by the Universidad Europea de Madrid and Design tool for Quasi-Zero network impact buildings presented by the Engineering Department at Universidad de Oviedo (Gijón Campus).

As well as the three winning projects, the following two entries were also shortlisted:
• Innovative technology solutions for the expansion of the renewable energy market by better harnessing solar energy, presented by the School of Engineering and Architecture at the Universidad de Zaragoza
• Dynamic management of high voltage power lines to improve the integration into the grid of renewable energies, presented by Universidad de Cantabria

The winning team was awarded a prize of 6,000 euros. The professor who supervised the winning entry was also awarded 3,000 euros. The group awarded second place was given 3,000 euros to be distributed among its members, and 1,500 euros for the coordinating professor. And the group in third place was awarded 2,000 for each group member and 1,000 euros for the supervising professor.

The sixth edition of the EDPR University Challenge has been particularly successfully, attracting 122 university entries, an increase of 45% with respect to the last edition, in which 84 projects from different Spanish universities took part.

João Manso Neto, CEO of EDP Renewables, who hosted the sixth edition of the awards, praised the “quality of the projects presented” describing them as “extremely impressive, as is the number of universities with projects dealing with renewable energy”.

EDP Renewables launched the EDP University Challenge in Spain in 2009 and in Portugal in 2007. The company has organised this contest every year since then to support universities in the practical application of academic knowledge for the development of projects and ideas in the field of renewable energies. The objective of the Challenge is to act as a liaison between the academic and business worlds, incentivising creativity and innovation, as well as fostering knowledge on the renewable energy sector.

For further information on EDPR University Challenge in Spain, visit the website: http://www.edpr-universitychallenge.es

About EDP Renewables (EDPR)

EDP Renewables (Euronext: EDPR), Headquartered in Madrid, is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 12 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, Mexico, Poland, Portugal, the UK and Romania). Energias de Portugal, S.A. (“EDP”), the majority shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX).

For more information visit: www.edpr.com.

About the Fundación EDP
The aim of the Fundación EDP is to strengthen the commitment of the EDP Group in Spain. The Foundation carries out research-related activities in the social, cultural, environmental and educational fields, designed to foster common sustainable development. The initiative showcased in this press release forms part of the overall activity promoted by the Foundation.

For more information www.fundacionedp.es

2014/10/01

EDPR, through its fully owned subsidiary EDP Renewables North America LLC, has secured a $33 million commitment of institutional equity financing in exchange for an interest in the 30 MW Lone Valley solar PV project, located in the State of California.

Madrid, October 1st 2014: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, has reached an agreement with a fund led by EFG Hermes, which also includes investments from the Gulf Cooperation Council Countries (GCC), to sell a 49% equity shareholding and outstanding shareholders loans in an operating wind farm portfolio with 270 net MW. The portfolio is located in France and comprises 33 operating wind farms with 5 years of average life, which currently benefit from a feed-in tariff regime.
Completion of the transaction is subject to regulatory approval and other customary closing conditions.

Based on the transaction price the enterprise value for 100% of the assets amounts to €1.3 million/MW. If included all the cash-flows generated since the projects’ inception, the total implied asset value of the portfolio sums to €1.9 million/MW.

Considering the €160 million of proceeds of this asset rotation transaction, EDPR has already reached a total of €1,038 million by selling minority stakes in US and European assets, including the sale to CTG and asset rotation transactions with institutional investors since 2012.

On closing the deal, João Manso Neto, CEO of EDP Renewables, stated: I am pleased to announce this new partnership and the breakthrough agreement with EFG Hermes which is part of the asset rotation plan that the company has been implementing in order to deliver its growth strategy”.
With more than €1 billion of proceeds from asset rotations, EDPR is delivering on its strategy of funding growth by crystallizing the value of its projects’ future cash-flow stream and re-investing in the development of quality and value accretive projects. Furthermore, with this transaction EDPR already executed c.60% of its cumulative asset rotation target of €700 million for the period 2014-2017, being well positioned to achieve it.

About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR), Headquartered in Madrid, is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 12 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, Mexico, Poland, Portugal, the UK and Romania). Energias de Portugal, S.A. (“EDP”), the majority shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX).

For more information, visit: www.edpr.com.