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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.

2014/09/01

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, September 1 2014: EDP Renewables (Euronext: 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. Lone Valley is EDPR’s first solar project in North America, being currently under construction and expected to be commissioned in the 4Q14.
The Lone Valley solar project will sell its output through two 20-year Power Purchase Agreement (“PPA”) with Southern California Edison Company, a subsidiary of Edison International.
The institutional partnership structure established enables an efficient utilization of the fiscal benefits generated by the project and improves the project’s economics.

 

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).

2014/08/21

EDPR has reached an agreement with Fiera Axium Infrastructure US L.P. (“Fiera Axium”) to sell a minority cash equity interest in a US wind portfolio with a total production capacity of 1,101 MW.

Madrid, August 20 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 Fiera Axium Infrastructure US L.P. (“Fiera Axium”) to sell a minority cash equity interest in a US wind portfolio with a total production capacity of 1,101 MW. Fiera Axium’s interest in the portfolio will represent 394.5 MW and is the second asset rotation transaction announced by EDPR with Fiera Axium, further strengthening the existing partnership.

The portfolio is comprised of 7 operating wind farms, installed between 2008 and 2011, and 2 wind farms currently under construction and expected to be commissioned in 2014. All of the wind farms have long-term offtake agreements in place.

Based on i) the transaction price and ii) the expected tax equity liabilities of the projects, the total enterprise value on the 1,101 MW portfolio amounts to US $1.7 billion  translating  to  $1.54  million/MW.  Including  the  cash  and  tax  attributes received since the projects’ inception, the total asset value of the portfolio sums to US $2.55 billion or $2.32 million/MW.

The above mentioned portfolio of 1,101 MW is expected to generate cash distributable to equity shareholders of about $40 million per annum in 2015 and 2016.

The transaction is subject to regulatory approvals. The offer contemplates an initial funding to occur upon obtaining regulatory approvals and a final funding to occur upon achievement of commercial operations of the assets under construction.

With this transaction, the total amount of minority sales, including sales to CTG and asset rotation transactions executed by EDPR since 2012, has reached €878 million. Furthermore, this agreement makes EDPR well positioned to achieve its cumulative asset rotation target for the period 2014-2017 of €700 million. The asset rotation strategy allows EDPR to crystallize the value of its projects’ future cash-flow stream and re-invest in the development of quality and value accretive projects, contributing to EDPR’s self-funding growth strategy.

 

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).

2014/06/27

EDP Renewables opens a new wind farm in the Champagne-Ardennes region Paris, 27 June 2014: EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, announces the opening of a new wind farm in France. The wind farm is located in the municipalities of […]

EDP Renewables opens a new wind farm in the Champagne-Ardennes region

Paris, 27 June 2014: EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, announces the opening of a new wind farm in France. The wind farm is located in the municipalities of Tarzy and Neuville-Lez-Beaulieu, in France’s Champagne-Ardenne region.

The cumulative annual energy production of the new wind farm will be equivalent to the electricity consumption of nearly 10,000 people.

Frédéric Lanoë, General Director of EDP Renewables France and Belgium and president of the French association of wind energy professionals (France Energie Eoliènne) was present at the opening ceremony, as was Mr. Benoit Huré, Senator and President of the General Council, and Frédéric Périssat, Prefect of the Ardennes.
This new project is representative of the ongoing growth of EDP Renewables in the French wind market, where it has had a presence since 2005. With an installed capacity of 322 MW, EDPR is third-largest wind energy producer in France.

EDPR also owns a 43% stake in a consortium to operate two new offshore windfarms along with GDF Suez and Neoen Marine, using AREVA turbines. The partners were selected by the French Government for the development, construction and operation of offshore wind farms at Le Tréport (Upper Normandy) and on the islands of Yeu and Noirmoutier (Pays-de-la-Loire). The installed capacity of each of these wind farms is 500 MW, amounting to a total of 1,000 MW.

About EDP Renewables (EDPR)
Headquartered in Madrid, Spain, EDP Renewables (Euronext: EDPR), 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. 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

2014/06/18

According to a Thomson Reuters ranking based on a survey carried out among the investment community Rui Teixeira, the company’s CFO, is in the Top 10 of chief financial officers in the same ranking Madrid, 18 June 2014: EDP Renewables (EDP Renewables, Euronext: EDRP), EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the […]

According to a Thomson Reuters ranking based on a survey carried out among the investment community

Rui Teixeira, the company’s CFO, is in the Top 10 of chief financial officers in the same ranking

Madrid, 18 June 2014: EDP Renewables (EDP Renewables, Euronext: EDRP), EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, has announced today that the company’s CEO, João Manso Neto, has been named as the third best chief executive officer in Spain, according to a Thomson Reuters survey carried out among the investment community.
The same ranking has also placed Rui Teixeira in sixth place among the Top 10 CFOs.
João Manso Neto being included in the ranking is recognition of his career as a leader among senior executives of Spanish companies. Manso Neto has been with EDP Group since 2003, where he is a member of the Board of Directors, as well as having performed extremely important executive roles.
EDP Renewables and its team have been recognised on numerous occasions by the financial markets, together with different organisations such as Great Place to Work, IR Magazine and several Portuguese, British, American and Spanish publications.

About EDP Renewables (EDPR)
Headquartered in Madrid, Spain, EDP Renewables (Euronext: EDPR), 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. 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).

wwd_web
2014/06/16

Institutions from Avila and towns surrounding the wind farm attended the celebration, together with families and schoolchildren from the nearby villages of Cillán, Cabezas de Villar, Fueteadaja de Muñana and La Torre. Various activities took place at the event, including an educational puppet theatre which revolved around the theme of energy, as well as kite […]

Institutions from Avila and towns surrounding the wind farm attended the celebration, together with families and schoolchildren from the nearby villages of Cillán, Cabezas de Villar, Fueteadaja de Muñana and La Torre.

Various activities took place at the event, including an educational puppet theatre which revolved around the theme of energy, as well as kite flying and drawing competitions for children. Those attending also had the opportunity of trying out a wind tunnel.

EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer, celebrated an open day today at El Rincón Wind Farm in San Juan de Olmo, in the province of Avila, to commemorate Global Wind Day.
The celebration brought together more than 120 schoolchildren and their teachers from two rural primary schools in the province of Avila. The schoolchildren travelled from Cillán, Cabezas de Villar, Fuenteadaja de Muñaca and La Torre. The celebrations also saw the attendance of Mayors and Councillors from nearby towns and villages, together with representatives from institutions in Avila and villages close to the wind farm.
The open day was enlivened by a drawing contest for the little ones, an educational puppet theatre which put on a show dealing with the theme of energy and a kite flying competition. Those attending were also able to enjoy trying out a wind tunnel, an air turbine that allows the user to experience the sensation of flying.
João Paulo Costeira, CEO of EDP Renewables Europe had the following to say about the event: “Global Wind Day is of paramount importance for our company. Not only because of what it represents in itself, but also because it allows us to showcase our activity in a fun and educational way to the public in the area where we operate.”

About EDP Renewables (EDPR)
Headquartered in Madrid, Spain, EDP Renewables (Euronext: EDPR), 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. 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).

2014/06/05

The 54 MW facility was started up today. The opening ceremony was attended by EDP Renewables’ local partner in the country, GEO Renewables EDP Renewables, a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer has held the opening ceremony of a new farm in the Polish town of Iłża together with […]

The 54 MW facility was started up today. The opening ceremony was attended by EDP Renewables’ local partner in the country, GEO Renewables

EDP Renewables, a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer has held the opening ceremony of a new farm in the Polish town of Iłża together with local partner GEO Renewables. This is EDP Renewables’ fifth wind farm inauguration in Poland, following those in Margonin (Wielkopolska), Korsze (Warmia and Mazury), Pawlowo (Wielkopolska), and Jędrzychowice Zgorzelec (Dolny Śląsk), the latter also in partnership with GEO Renewables.

The Iłża wind farm operates 27 modern V90 turbines, each with a capacity of 2 MW. The newly-opened facility will contribute to the fulfilment of Poland’s EU commitments for the development of renewable energy sources. This will reinforce the energy security of the country and will help to reduce harmful emissions of CO2, NOX and dust.

This investment has also enabled the improvement of local energy and road infrastructures during the preparatory work for the construction and operation of the wind farm. The presence of this facility will also lead to an upturn in economic activity in the region and provide additional income for local authorities and landowners. The developers of the wind farm, will also be involved in community life by supporting culture, as well as education,

As of the end of 1Q 2014, EDP Renewables’ installed capacity in Poland amounted to 374 MW, making it the leading wind energy producer in the country.

João Paulo Costeira, CEO of EDP Renewables Europe, stated “Poland continues to be one of the key markets in the development of EDP Renewables’ business. We are very pleased with the inauguration of this wind farm, as it contributes to reinforce our strong position in the country.”

Radek Nowak, CEO of GEO Renewables also expressed his enthusiasm with the inauguration of this wind farm: “As a Polish company, we are very pleased to develop this type of energy in the country and see how its acceptance among the population increases.”

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, 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).

About GEO Renewables

GEO Renewables S.A. is a Renewable Energy Group. It leads wind farm projects within Poland, from the development phase through to construction, launch and operation. The company is currently building wind farms in the regions of Silesia and Masovia. GEO is partnered with ENERCAP (Energy Capital Partners), a Private Equity Fund whose shareholders are EBOR – European Bank for Reconstruction and Development – and EBI – European Investment Bank.