EDP Renewables nearly doubles first-half profit

EDP Renewables reported a net profit of €184 million in the first half of 2026, almost double the level recorded a year earlier, in a result that points to stronger earnings momentum at one of Portugal’s main renewable energy groups. The company said in a filing to CMVM, Portugal’s securities market regulator, that the improvement was driven by operational performance and higher gains from asset rotation transactions, partly offset by higher depreciation and amortisation.

EBITDA rose 11% year on year to €1.057 billion. Chief executive Miguel Stilwell d’Andrade said the United States continues to post strong growth in renewables and now accounts for 62% of the EBITDA. He also said 70% of the company’s growth target through 2028 is already secured.

EDP Renováveis has 20.5 GW of installed capacity across projects under construction for 2026 and other projects already contracted for 2027 and 2028, with 64% of that capacity in onshore wind.

Revenue slipped 1% to €1.408 billion in the semester. The company said electricity sales fell 2% year on year to €1.145 billion, while the average selling price dropped 6% to €51.8 per MWh, reflecting lower prices in Europe, especially in the Iberian market, as well as currency effects. Higher energy prices in North America and Brazil partly offset that trend.

Electricity generation increased 4% to nearly 22.1 TWh in the period, despite renewable resources running 2% below the long-term average, the company said. Operating costs fell about 2% to €377 million, while capital expenditure dropped 36% to €715 million from €1.119 billion a year earlier. Net debt was 7% higher than at the end of last year, reaching €8.682 billion.

Originally published at Eco.pt