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					</table><p>Spain-based renewable energy company EDP Renewables (<a href="https://www.edpr.com/" target="_blank" rel="noopener">EDPR</a>) reported a net profit of €265 million (~$270 million) in the first half (1H) of 2022, an 87% year-over-year growth.</p>
<p>EDPR&#8217;s revenues reached €1,237 million, a 45% YoY growth, or an increase of €381 million (~$389 million) from the previous year.</p>
<p>The company recorded earnings before interest, taxes, depreciation, and amortization (EBITDA) of €976 million (~$996 million), a 49% YoY growth.</p>
<p>This performance, supported by the 16% increase in generation compared to last year, was driven by additional installed capacity and stronger renewable resources.</p>
<p>EDPR has 1.8 GW of wind and 1.3 GW of solar capacity under construction as of June 22.</p>
<p>Installed capacity increased to 13.8, with Europe and North America representing 40% and 51% of the portfolio, respectively. EDPR&#8217;s portfolio comprises 12.2 GW of wind onshore and 1.3 GW of solar.</p>
<p>EDPR generated 17.8 TWh of clean energy in the 1H 2022, an increase of 16% YoY, avoiding 11 million tons of CO2 emissions, with Europe and North America representing 36% and 57% of total generation output, respectively.</p>
<p>In Europe, generation increased 10% compared to last year, impacted by higher installed capacity and a stable renewable resource.</p>
<p>In North America, the output is up 12% interannually, reflecting better renewable resources in the U.S. and Canada. In South America, production increased 111% compared to the previous year, driven by higher installed capacity in Brazil, partially offset by lower renewable resources.</p>
<p>In June, EDPR <a href="https://mercomindia.com/edp-renewables-invest-1-58-billion-develop-offshore-wind/" target="_blank" rel="noopener">announced</a> that it would invest €1.5 billion (~$1.58 billion) in Ocean Winds through a 50:50 joint venture with global energy company Engie. The investment is part of the company&#8217;s strategic partnership announced in 2021 to accelerate energy transition through offshore wind.</p>
<p>Earlier this year, EDPR said it would <a href="https://mercomindia.com/daily-news-wrap-up-nhpc-hdfc-securitization-deal/" target="_blank" rel="noopener">acquire</a> a 91% stake in Sunseap and announced the closure of its S$1.1 billion (~$795 million) deal with the solar energy system developer. The company is mulling an investment of S$10 billion (~$7.2 billion) in 2030 to create an industry-leading clean energy hub for the Asia-Pacific region, with a portfolio including nearly 10 GW of clean projects.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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EDP Renewables Net Profit Rises by 87% YoY to $270 Million

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