EDF EN profits rise to $1.1bn

EDF Energies Nouvelles (EDF EN) recorded a 6.8% first-half Ebitda increase to €824m ($1.1bn) - up from €781m.

The rise in earnings before interest, tax, depreciation and amortisation reflects the "good operating performance" of the renewables arm, says its parent group, EDF.

EDF EN had sales of €1.4bn, down from €1.5bn, due to the "unfavourable effect of the warm weather in Europe, which was partially offset by the strong performance of its business in the US".

However, net installed capacity continues to increase, to nearly 5GW, up 4.8% from six months earlier. Generation grew nearly 10% year on year.

This month, EDF EN announced the commissioning of the 12MW Lepomis and Lancaster solar plants by its US subsidiary, EDF Renewable Energy, adding to its 350MW of projects in North America.

In June, it announced the commissioning of western Canada's biggest wind farm, the 300MW Blackspring Ridge in Alberta, 50% owned by EDF EN Canada and Enbridge.

EDF EN says it has 1.3GW wind and solar to come on line this year.

Meanwhile, the parent group also saw profits increase by 8.3% to €3.1bn in the first six months, up from €2.8bn in the same period last year, driven by "good operating performance and lower operating expenses".

The French power generator says the "good" results are due to a higher nuclear output in France and the UK, which generated two terawatt hours more.