EDP Renewables has reported recurring net profit of €183 million for the six months to June 2026, a 33% increase on the same period a year ago, it said in its half-year report.
The world’s fourth-largest wind producer cited higher installed renewable energy capacity, increased electricity generation and stronger asset rotation gains as the key drivers of its performance, despite experiencing lower electricity prices in Europe.
Reported net profit almost doubled year-on-year, rising 96% to €184 million, while recurring EBITDA increased by 8% to €1.03 billion, or 12% excluding foreign exchange effects.
The company has expanded its renewable energy portfolio in recent months, particularly in the United States, while also seeing higher gains from asset rotation transactions, including a €66 million gain from projects in Italy.
Renewable capacity
Installed renewable capacity reached 20.5 GW at the end of June, which was 4% higher than for the same month the previous year. Over the past year, EDPR added 1.76 GW of gross capacity while completing asset rotation transactions covering 0.9 GW, resulting in a net increase of approximately 0.9 GW in installed capacity.
As of the end of June, it had 1.9 GW of capacity under construction, it noted.
Electricity generation rose 4% year on year to 22.1 TWh, supported by higher installed capacity, although renewable resources were around 2% below the long-term average during the period.
Electricity prices
Elsewhere, EDP Renewables said that electricity sales declined by 2% to €1.14 billion, reflecting lower average realised electricity prices. Excluding foreign exchange movements, electricity sales increased by 2%.
The average selling price fell by 6% year on year as a result of lower wholesale electricity prices in Europe, particularly on the Iberian Peninsula, together with the impact of exchange rate movements. These effects were partly offset by stronger electricity prices in North America and Brazil.
The company also reported a 2% reduction in recurring core operating expenses, with operating costs per average megawatt falling 5% to €40,000 as efficiency measures took effect.
Net debt stood at €8.68 billion as of the end of June, an increase of 7% compared with December 2025. The increase reflected continued investment in new energy projects and expansion activity, partially offset by €200 million of organic cash flow and €500 million generated through asset rotation and tax equity transactions. Read more here.
