Higher output and prices mean profits joy at wind giant EDPR

Portuguese wind giant EDPR saw its profits increase in the first nine months of 2012, thanks to extra electricity production from a growing capacity base and higher prices for the power it sold.

EDPR made €675m ($863m) in the nine months to the end of September before interest, tax, depreciation and amortisation (Ebitda), a 23% increase on the €548m it booked at the same stage in 2011. Net profit was 48% higher at €93m.

Its installed capacity increased to 7.74GW from 7.28GW and output reached 13.35TWh, up 11% year-on-year. The operator also hailed a "top notch" average load factor of 29% for its wind farms.

EDPR’s average electricity price also grew by 11% to €63.9/MWh, helping to increase revenue by 22% to €936.

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