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2014/03/31

This award was granted by Great Place to Work® in the category of companies with fewer than 50 employees EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, announced that Great Place to Work® has named EDP Renewables Poland as the best place […]

This award was granted by Great Place to Work® in the category of companies with fewer than 50 employees

EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, announced that Great Place to Work® has named EDP Renewables Poland as the best place to work in 2014, for the second year running.

EDP Renewables Poland won first place in the category of companies with fewer than 50 employees, having made its business environment a truly great workplace. The company has always fostered a workplace in which people are the most important asset, and this award recognises its efforts in this regard.

Lukasz Zagorski, Deputy Director of EDP Renewables Poland, collected the award at a ceremony held in the Warsaw Stock Exchange on March 26th, 2014.

João Manso Neto, CEO of EDP Renewables, said about the award: “We are extremely proud of this kind of award, whereby aspects other than financial and operational results, in this case the working environment, recognise the management of EDP Renewables. It is very important for best practices in human resources and the workplace to be recognised in this manner, as it is people who make up companies”.

EDPR entered the Polish market in 2007, following the acquisition of a large portfolio of wind farm projects under development. Headquartered in Warsaw, EDPR is currently the largest operator in the Polish market. The extraordinary Margonin wind farm, with 120 MW, is EDPR’s largest wind farm in Europe. The company is currently present in four different regions in the country, with a total installed capacity of 370 MW.

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 third-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 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, 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).

2014/03/27

EDP Renováveis, S.A. (“EDPR”) has executed a project finance structure agreement with the European Bank for Reconstruction and Development (“EBRD”) and the Black Sea Trade Development Bank (“BSTDB”) for the 50 MW of solar power plants in operation in Romania. The long-term contracted debt facility amounts to €30 million and the transaction financial close is […]

EDP Renováveis, S.A. (“EDPR”) has executed a project finance structure agreement with the European Bank for Reconstruction and Development (“EBRD”) and the Black Sea Trade Development Bank (“BSTDB”) for the 50 MW of solar power plants in operation in Romania.
The long-term contracted debt facility amounts to €30 million and the transaction financial close is expected to occur until the end of July 2014.
This new agreement is EDPR’s seventh project finance in Eastern Europe (total of €505 million) providing strong evidence of the company’s competences in the development of top quality projects and in the establishment of solid financial structures meeting the requirements of partners with rigorous investment criteria and a strong focus on renewable energy development and on foster economic growth.
EDP Renováveis, S.A.

2014/03/20

Moray Offshore Renewables Ltd today welcomed news that the Scottish Government has awarded it consent for the construction and operation of 1.116MW of offshore wind generation in the Outer Moray Firth. The project, which, on conservative estimates of the wind resource available, will be capeable of meeting the equivalent electricity needs of around 700.000 UK […]

Moray Offshore Renewables Ltd today welcomed news that the Scottish Government has awarded it consent for the construction and operation of 1.116MW of offshore wind generation in the Outer Moray Firth.

The project, which, on conservative estimates of the wind resource available, will be capeable of meeting the equivalent electricity needs of around 700.000 UK households, consists of the Telford, Stevenson and MacColl offshore windfarms, which are planned for construction  14 miles (22km) from the Caithness coastline. 

João Manso Neto, CEO of EDP Renováveis said:

 “This is a critical step not only in the delivery of this project, but in the development of offshore wind in deeper water, further from shore.  

“This project will provide the UK with a significant new generation resource at a time when many ageing thermal powerstations are coming off-line, generation capacity is shrinking, and gas prices are rising. It will deliver improved security of supply, and greater insulation for consumers from volatile fossil fuel prices. 

Benjamín Palomo, Executive Director of Repsol Gas & Power said:

“We are delighted that the Moray Firth offshore wind farm has been granted consent by Marine Scotland. The project represents a substantial investment and will bring significant benefits not only to the United Kingdom as a country, but also to the local economy through construction and operation.  We will continue ensuring that we power our economies with clean, secure energy for many years to come.”

Dan Finch, Project Director for Moray Offshore Renewables and EDPR UK Country Manager, said:

“I would like to thank all of the people who have worked with us and engaged with the project to develop sustainable proposals which can be delivered without adversely affecting the environment, and which will allow offshore wind to develop alongside the long-established industries of the Moray Firth. 

“We look forward to engaging with businesses who will be able to take advantage of the new market which offshore wind development will bring, and will be announcing a series of industry engagement events in the Moray Firth area to encourage the development of a competitive,  innovative supply chain.

Ronnie Quinn, The Crown Estate’s lead on Energy & Infrastructure in Scotland, said:

 “This is the second largest offshore wind project to be consented in the UK, reflecting the drive and expertise of the Scottish renewables industry. This development should help the UK retain a global lead in offshore wind and create plenty opportunities for Scottish businesses to benefit from the growth in low carbon energy. Our team stands ready to support this project as it progresses.”

 

CONTACT: Craig Milroy , EDPR UK: 07584 608842

Notes to Editors

  1. About Moray Offshore Renewables Ltd

Moray Offshore Renewables Limited (MORL) was formed as a joint venture company owned 67% by EDP Renewables (EDPR) and 33% by Repsol Nuevas energias UK Limited (Repsol) with the aim of developing offshore wind generation in the outer Moray Firth. MORL was awarded the rights to develop offshore wind in the Outer Moray Firth as a development partner of The Crown Estate as part of the Third Round of Offshore Wind Licensing.

  The main points of the development include:

  • Total installed generation capacity: 1116 MW
  • Total Number of turbines: up to 62 turbines of 6MW to 8MW capacity on each of three sites
  • Total Area – 295km2
  • Maximum turbine blade-tip  height -  204m (669 feet)
  • Minimum distance from shore – 22km (13.5 miles)

The projected development is expected to be able to supply the equivalent electricity needs to 688 000 UK households on the basis of average annual electricity consumption.

Peak employment during construction is projected to be up to 2,400 jobs in Scotland.

During the operational lifetime of the project, up to 330 Scottish jobs will be  supported by operation and maintenance activities.

  1. 2.       About EDP Renewables

EDP Renewables (Euronext: EDPR), headquartered in Madrid, Spain, is a global leader in the renewable energy sector that designs, develops, manages and operates power plants that generate electricity using renewable energy sources. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years.

 More information may be found at www.edpr.com

 

  1. 3.       About Repsol

Repsol is an integrated oil and gas company with presence in more than thirty countries, employing over 24,000 people. Repsol is present along the whole energy value chain, including exploration, production, refining, transport, chemicals, retail sales and new types of energy. Repsol is a global company that strives for the welfare of people and is a step ahead in building a better future through the development of smart energy solutions.

 More information may be found at www.repsol.com

 

  1. 4.       About The Crown Estate

The Crown Estate manages the UK seabed and is supporting offshore renewables with a £100 million investment in projects designed to accelerate development and attract investors. In addition, they provide expertise to support developers, from development and consenting through to commissioning. Their staff have worked closely with EDPR and Repsol since 2010.

2014/02/26

The company proposes a dividend distribution of €0.04 per share (26% pay-out) EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, announced today that its electricity output increased by 8% to 19.9 TWh in 2013. Over the last 12 months, the company raised […]

The company proposes a dividend distribution of €0.04 per share (26% pay-out)

EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, announced today that its electricity output increased by 8% to 19.9 TWh in 2013. Over the last 12 months, the company raised its installed capacity by 502 MW to a total of 8.5 GW. In 2013 EDPR was able to maintain a record system-wide load factor of 30%, one of the highest in the industry, which, together with the portfolio’s 97.7% technical availability confirms the quality of the assets and better profitability. By geographical market, load factors reached 28% in Europe, 32% in the US and 31% in Brazil.

FY 2013 revenues increased 6% to €1,356 million, based on: the asset quality with the highest load factors in the market, a strong electricity output increase (8% YoY) and lower average selling prices (-2% YoY).

Despite the impact of regulatory changes in Spain, the company registered very resilient EBITDA, seeing growth of 1% to €947 million for 2013. By platform, the main contributor to EBITDA was the United States, followed by Spain and Portugal, which is evidence of the geographical diversification of the portfolio.

Net profit for FY 2013 was €135 million, up 7% on 2012, and EDPR proposes a dividend pay-out of 26%, i.e. €0.04 per share. Operational cash flow rose 5% YoY to €700 million in FY 2013, which is once again proof of EDPR’s ability to convert financial results into cash flow generation, all the more relevant in terms of a portfolio which is only 4.7 years old. Operational cash flow exceeds annual Capex for the second year running (€627 million for 2013).

At 2013 year end, EDPR’s net debt had been reduced by €23 million, as had the interest costs which fell 3%.

In 2014 EDPR will focus on selective growth based on the execution of PPA projects in the US, the cornerstone of the company’s future performance and in which it has already secured +980 MW of profitable PPAs for the 2014-16 period. EDPR will also start its first wind and solar power projects in California in 2014.

Europe will continue to offer low risk growth opportunities in Portugal (ENEOP program), Italy, France and Poland.

EDPR’s overall growth strategy will be based on three pillars: quality assets delivering increased profitability, selective and profitable growth and a self-funding business model.

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 third-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 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, 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).

2014/02/18

EDP Renováveis, S.A. (“EDPR”) announces the start of construction of 30 MW of its first solar photovoltaic (solar PV) in the United States. The projects, acquired in 2013 by EDPR in late stage of development from Lincoln Renewable Energy, have 20-year Power Purchase Agreements (“PPA”) with Southern California Edison and are expected to be installed […]

EDP Renováveis, S.A. (“EDPR”) announces the start of construction of 30 MW of its first solar photovoltaic (solar PV) in the United States. The projects, acquired in 2013 by EDPR in late stage of development from Lincoln Renewable Energy, have 20-year Power Purchase Agreements (“PPA”) with Southern California Edison and are expected to be installed in 2014. Located in Southern California, the projects benefit from some of the highest solar irradiance in the state and based on its prime locations, EDPR expects a load factor above 30%.

The Lone Valley Solar Project supports EDPR’s strategic agenda of selectively diversifying growth into new renewable technologies. EDPR already owns 50 MW of solar PV in Romania, installed in 2012 and 2013. 

According to João Manso Neto, CEO of EDP Renováveis, “the company is consistently committed to those combinations of markets and technologies where we see a clear positive path in the future. This announcement once again serves to confirm our strategy in this regard.”

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 third-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 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, 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).

2014/01/17

EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, has executed a project finance structure agreement for its first wind farm in Canada. The South Branch project located in Ontario with an installed capacity of 30 MW has secured a 20 year Feed-in […]

EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, has executed a project finance structure agreement for its first wind farm in Canada. The South Branch project located in Ontario with an installed capacity of 30 MW has secured a 20 year Feed-in Tariff awarded by the Ontario Power Authority.

The long-term contracted debt facility amounts to $49 million (Canadian dollars) and the funding is expected to occur during the first quarter of 2014. EDPR financing strategy is to contract long-term debt in local currency at competitive prices in order to mitigate the refinancing risk and to reduce the foreign exchange risk by having a natural hedge between revenues and costs.

With the successful execution of its first wind project in Canada, EDPR adds to its portfolio a market with a low risk profile and attractive wind resource and extends its geographical diversification to 11 markets around the world (US, Spain, Portugal, France, Belgium, Poland, Romania, UK, Italy, Brazil and Canada).

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 third-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 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, 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).

2014/01/09

EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, through its fully owned subsidiary EDP Renewables North America LLC, signed a 20-year Power Purchase Agreement (“PPA”) with Kansas City Power & Light Company to sell the renewable energy produced from its 200 MW […]

EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, through its fully owned subsidiary EDP Renewables North America LLC, signed a 20-year Power Purchase Agreement (“PPA”) with Kansas City Power & Light Company to sell the renewable energy produced from its 200 MW Waverly wind farm project to be installed in the state of Kansas and expected to start selling electricity under the PPA in 2016.

Since the beginning of 2013 EDPR has already secured 1,200 MW of new PPAs, of which 250 MW for projects that were already in operation and 950 MW for new projects to be installed in 2014 and beyond. 

The success of EDPR in securing new PPAs reinforces the company’s low risk profile and provides solid visibility to its growth prospects.  

 

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 third-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 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, 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).

2013/12/20

EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, has executed a project finance structure agreement for two wind farms placed into operation in 2013 in Poland, with a total installed capacity of 50 MW. The long-term contracted debt facility amounts to 168 […]

EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, has executed a project finance structure agreement for two wind farms placed into operation in 2013 in Poland, with a total installed capacity of 50 MW.

The long-term contracted debt facility amounts to 168 million Zlotys (€40 million equivalent) and the transaction financial close is expected to occur until the end of 2013.

EDPR financing strategy is to contract long-term debt in local currency at competitive prices in order to mitigate the refinancing risk and to reduce the foreign exchange risk by having a natural hedge between revenues and costs.

This new agreement is EDPR’s sixth project finance in Eastern Europe (total of €485 million) providing strong evidence of the company’s competences in the development of top quality projects and in the establishment of solid financial structures.

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 third-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 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, 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).

2013/12/16

EDP Renováveis, S.A. (“EDPR”) has executed a project finance structure agreement with the European Bank for Reconstruction and Development (“EBRD”) for 80 MW in Poland. The long-term contracted debt facility amounts to 301 million Zlotys (€72 million equivalent) and the transaction financial close is expected to occur in the beginning of 2014. EDPR financing strategy […]

EDP Renováveis, S.A. (“EDPR”) has executed a project finance structure agreement with the European Bank for Reconstruction and Development (“EBRD”) for 80 MW in Poland.

The long-term contracted debt facility amounts to 301 million Zlotys (€72 million equivalent) and the transaction financial close is expected to occur in the beginning of 2014.

EDPR financing strategy is to contract long-term debt in local currency at competitive prices in order to mitigate the refinancing risk and to reduce the foreign exchange risk by having a natural hedge between revenues and costs.

This transaction is EDPR’s fifth project finance in Eastern Europe (total of €445 million)   providing   strong   evidence   of   the   company’s   competences   in   the development of top quality projects and in the establishment of financial structures meeting the requirements of partners with rigorous investment criteria and a strong focus on renewable energy development.

 

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 third-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 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, 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).

EDP Renováveis, S.A. (“EDPR”), through its subsidiary EDP Renováveis Brasil, S.A. (“EDPR Brasil”), secured four 20-year Power Purchase Agreements (“PPA”) at the Brazilian energy A-5 auction of December 13th 2013 to sell electricity in the regulated market. The four PPA are related to the equivalent renewable energy produced by four wind farms totalling 116 MW, to be […]

EDP Renováveis, S.A. (“EDPR”), through its subsidiary EDP Renováveis Brasil, S.A. (“EDPR Brasil”), secured four 20-year Power Purchase Agreements (“PPA”) at the Brazilian energy A-5 auction of December 13th 2013 to sell electricity in the regulated market. The four PPA are related to the equivalent renewable energy produced by four wind farms totalling 116 MW, to be installed in the State of Rio Grande do Norte, in Brazil.

The projects are adjacent to other wind farms under development by EDPR in Brazil, which coupled with its quality and the predefined bidding strategy enhanced the projects’ competitiveness in the process. Accordingly, EDPR was able to sell 45 average MW in the A-5 auction, starting in early 2018, with more than 75% of the expected capex to occur in 2017. The price of the long term contract was set at R$109/MWh, indexed to the Brazilian inflation rate.

The successful outcome from this auction reinforces EDPR presence in a market with a low risk profile through the establishment of long term PPA, attractive wind resource and strong prospects for the wind sector in the medium and long term.

 

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 third-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 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, 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).