Renewables and hydropower boost EDF in first half of 2012

The performance of its renewables and hydro operations helped French utility EDF to boost sales and profits in the first six months of 2012.

EDF Energies Nouvelles – the renewable energy division – saw half-year earnings before tax, interest, depreciation and amortisation (Ebitda) reach €346m ($424m), 70.5% ahead of the same stage in 2011.

The French group says wind and solar output both increased in Europe and North America, while its asset development and sales operation experienced “buoyant activity”.

French hydropower output soared by 42% year-on-year helped by favourable hydrological conditions in the second quarter.

EDF says the renewables and hydro performances helped to partially offset lower nuclear output.

The group as a whole recorded a half-year…

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