EDPR investments surge during first half of 2009

Portuguese renewable energy giant EDP Renovaveis increased its capital expenditure to €913m in the first half of 2009, compared to €760m during the same period of 2008. Of this, €493m was spent in the UK and €419m in the US.

Of this, €493m was spent in Europe and €419m in the US. Within Europe, EDPR spent €248m in Spain, €44m in Portugal, and €201m in the rest of Europe, in particular in Poland, Belgium and France. Some 94% of capex was spent on construction and development activities and 6% on wind turbine deposits.

EDPR’s first half net profit rose by 32% to €65.6m, compared to €49.6m in the first half of 2008. EBITDA was up 19% at $270.8m. EDPR said that the higher profits were a result of higher output, and “a Log in to read complete article.

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