EDP Renewables (EDPR), the renewable subsidiary of the Portuguese electricity company Energias de Portugal (EDP), has announced its 2018 results. The group's power generation rose by 3% to 28.4 TWh, thanks to capacity additions; EDPR's power generation grew by 4% in North America to 15.6 TWh and by 43% to 1.2 TWh in Brazil. In Europe, it decreased by 2% to 11.5 TWh due to exceptionally low wind conditions in Poland (-16%) and Romania (-18%).
The group currently operates about 11.7 GW of renewable power capacity spread over 11 countries, of which 11.3 GW are fully consolidated and 371 MW equity consolidated. More specifically, EDPR is present mostly in the United States (5.3 GW fully consolidated and 219 MW equity consolidated), Spain (2.3 GW fully consolidated and 152 MW equity consolidated), Portugal (1.3 GW) and Romania (521 MW).
The company commissioned 826 MW of new generation capacity throughout the year, of which 478 MW were in the United States, 211 MW in Europe and 137 MW in Brazil. Interests in several planned projects were sold (160 MW), including a 10% stake at the 950 MW Moray East wind park off Scotland (United Kingdom). With this divestment, EDPR technically added 665 MW to its portfolio in 2018.
In 2017, the company added 600 MW, of which 424 MW in North America, 127 MW in Brazil and 49 MW in Europe. Over the last three years, North America has been EDPR's core growth market with about 1.3 GW added, representing 66% of the company's total additions in the period.
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