News RSS

EDP Renewables 1Q 2012: Ebitda up by 20% (YoY) to 263 million Euros

Tue, 08 May 2012 23:00:00 GMT

EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that in 1Q 2012 electricity output increased by 18%YoY to 5.2TWh, as a result of the capacity growth over the last 12 months ( 619 MW) along with the increase in the average load factor to 34%, one of the highest in the industry, underlining the portfolio’s superior profitability.

1Q 2012 revenues increased 22% to €346 million, outpacing volume growth given the sustained increase of the average selling price in the period. EBITDA grew 20% YoY to € 263 million, which resulted in a 76% EBITDA margin. EBIT increased 47% YoY as a result of the solid operating growth and the extension of the useful life of EDPR’s operating assets to 25 years (introduced in the 2Q 2011).

Net profit in the period increased 26%YoY to €62 million, mainly reflecting the recurring performance at the operating level. In comparison with 1Q 2011, the bottom-line benefited from the extension of the projects’ useful life, but was partially offset by the introduction of deferred tax accounting in the US.

Operational cash flow grew 17% YoY to €202million in 1Q 2012, which covered€55 million of Capex. This growth represents 77% of 1Q 2012 EBITDA, proving company’s capability to convert financial results into cash generation.

In 2012, the company plans to add 500 MW of high quality projects with above-average selling prices and premium load factors, to close the year with total installed capacity of 8 GW.EDPR will continue to focus on efficient operations through high technical availability and low operating & maintenance costs, and on reinforcing its presence in current growth platforms: Central/Eastern Europe and Brazil.

EDPR is one of the 2012 BEST WORKPLACES IN SPAIN

Mon, 23 Apr 2012 23:00:00 GMT

EDPR is proud to announce that has ranked #6 in the Best Workplaces list, an international workplaces study, that highlight the 50 Best Companies to Work for in Spain after evaluating 250 companies.

The Best Companies have created more than 4.937 new jobs in 2011 and have grown over 3%.

In the 50 Best Workplaces, the average score of the Trust Index© employee survey is 80, and the level of absenteeism has lowered to 1.77%.

EDPR Inaugurates Tramandaí Wind Farm

Sun, 22 Apr 2012 23:00:00 GMT

Wind farm has installed capacity of 70 megawatts, enough power to supply a city of more than 200,000 people

Editorial

On 5 April, EDP Renováveis Brasil, an EDP Renováveis (55%) and EDP Energias do Brasil S.A. (45%) company, celebrated the entry into operation of the Tramandaí wind farm, located in the coastal municipality of Tramandaí, state of Rio Grande do Sul. The wind farm has an installed capacity of 70 megawatts and estimated production of 211,437 MWh per year, enough energy to supply a city of more than 200,000 people, around five times the size of the city of Tramandaí.

With Tramandaí’s entry into operation, EDP Renováveis Brasil now has a portfolio of 84 MW of installed power from wind energy sources. Furthermore, with the Tramandaí wind farm, Brazil now has more than 1000 MW of capacity from the force of winds, more than the power of a turbine of the Itaipu power plant.

EDP Renováveis Brasil complied with environmental requirements in the wind farm’s construction, including the protection and control of migratory bird routes and preservation of native flora and fauna species. Built on the southern end of the city of Tramandaí in an area of dunes, the wind farm generated 600 direct job positions during its construction alone to build its access roads, foundations, towers, substation and transmission line.

The wind farm is comprised of 31 windmills (from 1.9 to 2.3 MW) with 98-meter towers and 40-meter blades, totaling 138 meters in height, the same as a 50-floor building. To give an idea of its immense size, a single 2.3 MW windmill produces between 5 and 7 million KWh of clean power per year, corresponding to the consumption of around 2,000 households or 8,000 people.

With this new wind farm, EDP Renováveis Brasil is reinforcing its commitment to Brazilian wind power, a definitive strategic focus for the EDP Group, and in line with the Brazilian energy network’s need for clean energy to supplement its water power, since winds are stronger during dry spells. Brazil’s winds have high potential for speed and well-defined direction, coupled with a lower air density, making it one of the world's best countries to develop wind power.

Corporate Social Responsibility

EDP Renováveis Brasil, through the EDP Institute, the institution that coordinates the EDP Group’s socio-environmental activities in Brazil, has social programs in Tramandaí (Rio Grande do Sul) and Água Doce (Santa Catarina). The projects help to enhance public education and the quality of living in local communities, with activities involving the environment focusing on environmental conservation. These programs include EDP nas Escolas (EDP in the Classroom), Diálogos com a Comunidade (Dialogues with the Community), Aventura e Ecologia (Adventure and Ecology) and the Curso de Educação Ambiental (Environmental Education Course).

EDP in the Classroom has been held in the municipality of Tramandaí (Rio Grande do Sul) since 2009, including schools of the Santa Catarina Municipal Secretary of Education and Culture and the Jorge Enéas Sperb Municipal School in Rio Grande do Sul. The purpose of the project is to improve the quality of students’ academic life in municipal public schools through a number of initiatives, including school kits, school theater, assisting the school environment, the “Art with Energy” cultural contest, teacher training and raising awareness for the safe and sensible use of electric power.

The Adventure and Ecology project began in December 2011, and involves ecological outings in the Tramandaí region. It is run by the NGO Farol da Terra and by the travel agency Expedições Jamboo Viagens e Turismo, and is sponsored by EDP Renováveis Brasil. The purpose of the initiative is to encourage the community to carry out activities involving the environment, tourism and wind power, focusing on environmental conservation. There are three different activities: the Ecological City Tour, Eco-tourism Canoeing and Environmental Mini-Courses on medicinal plants, environmental photography and other topics.

In 2011, EDP Renováveis Brasil also sponsored the Environmental Education Course, held for 40 representatives from 18 municipalities tied to the Tramandaí River Watershed Committee (Comitê da Bacia Hidrográfica do Rio Tramandaí). In addition, residents, local leaders and authorities from the Tramandaí region take part in Dialogues with the Community. The project has been held since the second half of 2010, promoting ongoing dialogues on topics of public interest involving the wind farm under construction in the region.

EDPR received EMEA Finance Award

Mon, 16 Apr 2012 23:00:00 GMT

EDPR received EMEA Finance’s “Best Sustainability Deal” recognizing the financing of two EDPR wind farm projects developed in Romania, the Cernavoda Wind Farm and Pestera Wind Farm. Both projects received funding within complex markets where funding can be challenging.

“It has been our pleasure to track the bank’s success, and to deal with you and your colleagues who help to keep things moving when credit and funding is in scarce supply,” said Christopher Moore, CEO of EMEA Finance, In 2010, EDPR’s Margonin Wind Project in Poland was recognized with the same award. “Congratulations to you and your colleagues on another very productive year”, wrote Moore in an email to EDPR. EDPR will be presented the award at the EMEA Project Finance Awards Ceremony on June 21, 2012.

The award ceremony will be held in London and attended by representatives of corporations, banks, multilateral agencies, and advisors from across the EMEA region

EDP Renewables FY 2011: Ebitda up by 12% to 801 million Euros on revenues of 1,069 million Euros

Wed, 29 Feb 2012 00:00:00 GMT

EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that in 2011 electricity output increased by 17% to 16.8 TWh. Over the last 12 months, the company increased its installed capacity by 806 MW ( 12%) to a total of 7.5 GW, with a strong focus on new markets (Brazil, Poland and Romania) which represented over 40% of the newly installed capacity. For 2011, EDPR was able to maintain system-wide load factors of 29%, one of the highest in the industry, underlining the portfolio’s superior profitability. By geographical markets, load factors reached 25% in Europe, 33% in the USA and 35% in Brazil.

FY 2011 revenues rose 13% to €1,069 million, based on a strong electricity output increase (17% YoY), leading to higher electricity sales ( 16% YoY), a slower pace of Institutional Partnership Revenues (YoY 4%) and an unfavourable forex evolution.

EBITDA grew 12%, reaching 801 million Euros for 2011, in line with strong operating growth, with a constant EBITDA margin of 75%. EBIT figures show a high growth of 20% to reach 247 million Euros, reflecting top-line performance, non-recurrent revaluations and write-offs and the extension of assets’ useful life. Net profit for the FY 2011 was €89 million, up 10% on 2010.

Operational cash flow grew 13% YoY to €643 million in FY 2011, representing 80% of 2011 EBITDA, which showcases EDPR’s capability to convert financial results into cash generation and its ability to fund growth from cash, which now covers around 80% of annual capex.

At end 2011 EDPR’s debt structure was 92% fixed, with almost 80% of debt maturing after 2018, matching the company’s business model with its cash flow profile.

EDPR will continue to focus on projects with top-line visibility, above-average prices and high wind resources, applying a selective growth strategy to improve portfolio metrics in 2012 and 2013. EDPR targets to add 500MW of generating power in 2012 in top quality projects.

The AEE Board of Directors names the EDPR representative, Rocío Sicre, as president

Thu, 19 Jan 2012 00:00:00 GMT

She will represent the wind power sector in talks regarding new regulation

Madrid, 19th January 2012: The Board of Directors of the Wind Power Business Association (AEE), which met in Madrid today, has named Rocío Sicre as president, who until now had been the Country Manager of EDP Renováveis (EDPR). Among other duties, the newly elected president will be responsible for negotiations with the Government regarding the new framework for regulating the wind power sector.

A graduate in Economic Science and Business Studies from the University College of Financial Studies (CUNEF), the whole of Ms Sicre's career has been centered on renewable energy. Initially, she worked for the former Unión Fenosa Energías Especiales undertaking various jobs in the legal and financial sector until becoming financial director in 2001. After that, she became financial director for the Grupo Hidrocantábrico (now, part of EDP). Since joining this group, Ms Sicre headed the financial department of EDPR Europe until being appointed Country Manager of EDPR Spain in 2008, a post which she continues to undertake to this day.

EDPR, a subsidiary of the renewable energy company EDP with presence in 11 countries, is one of the major developers of the wind power sector in Spain with nearly 2.500 MW. Several companies which form part of the group were among the founding members of AEE.

Ms Sicre has asserted that the first thing she intends to do will be “to make AEE available for talks with the Government and commence negotiations regarding the new framework for regulation, something which is of fundamental importance for the future of the industry. The Association is ready and willing to work in conjunction with the Executive to find the best possible solution, not just for Spain and the Spanish economy, but also to sustain the industry”.

With 220 member companies, AEE represents over 90% of the wind power sector in Spain and its mission is to defend the interests of its members. In 2012, the Association celebrates its tenth anniversary, coinciding with the last year of validity of Royal Decree 661/2007, the framework regulating the industry at present. That is the reason why it is so urgent to find ways of opening talks with the Executive committee and reach agreement regarding the new regulation in such a way it benefits Spain and its economy as well as guaranteeing the future of the industry.

Announcement

Mon, 09 Jan 2012 00:00:00 GMT

EDP Renováveis, S.A. ("EDPR") informs that its principal shareholder EDP - Energias de Portugal, S.A. ("EDP") has announced today the following:

«As disclosed today, an EDP General Shareholders’ Meeting has been convened for next February 20, in which, among other, shareholders will decide upon the election of new members of the Executive Board of Directors, for the 2012-2014 term of office, considering a proposal made by some of EDP shareholders, who hold, in total, a significant percentage of shares representing EDP share capital.

The approval of the abovementioned proposal will necessarily result in a change of Board Members’ corporate and management areas, with implications at the level of EDP listed subsidiaries.

As a consequence, shall the referred proposal for the election of new Executive Board Members be approved, EDP hereby informs, from now, that, as major shareholder of EDP Renováveis, it intends to propose the necessary steps for Mr. João Manso Neto to assume the position of EDP Renováveis’ Chief Executive Officer, in substitution of Mrs. Ana Maria Fernandes.

Similarly, EDP intends to, as a major shareholder of EDP Energias do Brasil, propose the necessary steps for Mrs. Ana Maria Fernandes to assume the position of Chief Executive Officer of the mentioned company, in substitution of Mr. António Pita de Abreu.»

Certification OHSAS 18001:2007 wind farms

Wed, 28 Dec 2011 00:00:00 GMT

As a result of the work we have done in France this year, we have been able to certify the first six wind farms in accordance with OHSAS 18001:2007, with a total of 67 MW, which accounts for 23.5% of the existing MW in that country. In Spain, 2011 saw the second follow-up audit of the OHSAS 18001:2007 certification of the occupational risk prevention management system obtained in 2009; the audit was successfully completed and the certificate renewed.

In addition to the 67 wind farms certified in 2010 and whose certificates were renewed in 2011, accounting for a total power of 1,596 MW, the rest of the wind farms in Spain in which EDP Renewables Europe is a majority shareholder were also certified. The company thereby boasts a total of 83 certified parks in 2011 and 2,126 MW EBITDA.

We are looking ahead to the coming years and working to extend certification to the rest of the wind farms in France, as well as implementing the Occupational Risk Prevention Management System in Poland and Romania, so that in 2012 and 2013 they can also be certified in accordance with OHSAS 18001:2007.

EDP Renováveis establishes new institutional partnership structure for 99 MW in the US

Fri, 23 Dec 2011 00:00:00 GMT

EDP Renováveis, S.A. (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, has secured c.USD 124 million of institutional equity financing from JPM Capital Corporation (“JP Morgan”) and Wells Fargo Wind Holdings LLC (“Wells Fargo”), in exchange for a partial interest in its 99 MW Blue Canyon VI wind farm, that has started operating in the State of Oklahoma.

USD 97 million were realized upfront and an additional USD 27 million are expected to be funded by JP Morgan and Wells Fargo during the life of the project as production tax credits (“PTCs”) are generated. The total amount of expected financing is equivalent to approximately 75% of the project’s capital expenditures.

The Blue Canyon VI wind farm has a very competitive levelized cost of energy (LCoE), given its low investment cost and a load factor above 40%, which allows EDPR to maximize the Net Present Value of the project through the election of the PTCs in lieu of the Cash Grant. The institutional partnership structure closed with Wells Fargo and JP Morgan will enable an efficient utilization of the PTCs and other tax benefits.

EDPR will continue to choose the best financing structure available for each project to improve project’s economics and value creation.

EDP and China Three Gorges establish strategic partnership

Thu, 22 Dec 2011 00:00:00 GMT

EDP Renováveis, S.A. ("EDPR") informs that its principal shareholder EDP - Energias de Portugal, S.A. ("EDP") has announced today the following:

«In the context of the 8th reprivatisation phase of EDP – Energias de Portugal, S.A. (“EDP”), the Portuguese State announced today that China Three Gorges (“CTG”) has been selected to be the purchaser of a 21.35% stake in EDP. Accordingly, it was approved by EDP’s Executive Board of Directors, following the prior favorable opinion of the General and Supervisory Board, the establishment of a strategic partnership with CTG.

EDP and CTG, China’s largest clean energy group, will combine efforts to become worldwide leaders in renewable energy generation, by means of a strategic partnership in renewable generation projects, where EDP will lead in Europe (in the countries where EDP is present), US, Canada, Brazil and other selected South American markets and CTG will lead in Asia markets where it is present and/or it has technological or industrial advantage.

In accordance with the envisaged partnership, CTG will invest €2bn until 2015 (including co-funding capex) for stakes between 34-49% in 1.5 GW (net) of operational and readyto- build renewable energy generation projects, from which €800m in the first 12 months after the closing of the partnership.

Moreover, the partnership with CTG includes a firm funding commitment by a Chinese financial institution to EDP at corporate level in the amount of up to €2bn for a maturity up to 20 years.

The partnership strengths EDP’s credit profile through the increase of EDP’s financial liquidity position with the extension by two years of the coverage of EDP’s financing needs till mid-2015 and targeting a Net Debt/EBITDA ratio below 3.0x by 2015. Moreover, the partnership allows EDP to diversify growth opportunities and is expected to be EPS enhancing from 2012 onwards.

To the extent applicable the agreement between EDP and CTG is subject to the approval of the EDP Renováveis relevant corporate bodies.

Final agreement on the Strategic Partnership will be signed, on or around, the date of closing of the acquisition of the stake in EDP by CTG which is dependent upon the fulfillment of standard conditions precedent.»

EDP Renewables presents University Challenge 2012

Thu, 24 Nov 2011 00:00:00 GMT

EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, has presented today, at the Gijón Technical School of Engineering, the latest edition of the EDP University Challenge, for which Spanish university students can present renewable energy-related projects.

The event was attended by the University of Oviedo's Vice Chancellor for Research, Santiago García Granda and Vice Chancellor for Students and Employment, Luis Rodríguez Muñiz as well as the Director of the Gijón Technical School of Engineering, Hilario López García, among others. Also in attendance were Enrique Jáimez, Head of the University of Oviedo’s Energy, Environment and Climate Change Cluster; Javier Díaz, Head of Project Management at EDP Renewables; and Rafael Solís, Head of Communications at EDP Renewables. The winners of the 2011 Challenge also participated, with students from the Gijón Technical School of Engineering presenting their project "Design for an off-shore wind farm".

The 2011 edition of the Challenge stood out for the remarkable number of projects presented – over 40 – and it is hoped that the 2012 Challenge will receive even more entries, thanks to the huge interest the initiative has sparked among Spanish universities.

The EDP University Challenge 2012 is entitled "EDP and renewable energies: facing the future side by side", and features some significant modifications on last year's format. The 2012 edition has three award categories. The winning project will receive a €6,000 grant, as well as a research grant worth €3,000 for the supervising tutor. The project awarded second place will receive a €3,000 grant and a €1,500 research grant for the supervisor, and the award for third place comprises a €2,000 grant and a €1,000 research grant.

EDP Renewables launched the EDP University Challenge in Spain in 2009 and in Portugal in 2007. Thanks to its great success, this year the Challenge has been extended to Brazil. The Challenge aims to support and reward university students for the practical application of their academic knowledge to the development of projects or ideas in the field of renewable energies.

As of right now, Spanish university students can register for participation and check the terms and conditions of the Challenge at www.edpr.com.

EDP Renewables, one of the winners of the 2011 MyBrand Reputation Index

Thu, 24 Nov 2011 00:00:00 GMT

EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, has been awarded second place in the 2011 MyBrand Reputation Index, an annual brand reputation ranking carried out in Portugal by the consultancy MyBrand. For the second year running, the company has achieved a top five position in the ranking, having received special recognition for three of the attributes assessed: innovation, citizenship and workplace.

The Index rates the company's reputation, assessing the way in which it is perceived by the general public and by private investors. In 2010, the ranking was focused on companies listed on the PSI20, the blue chip index of the Euronext-controlled Lisbon Stock Exchange. For this second edition of the MyBrand Reputation Index, 44 of Portugal's largest companies were evaluated by 2,923 Portuguese participants.

The ranking is based on seven reputation-related attributes: economic and financial performance; quality of products and services; management leadership; workplace; ethics; social responsibility; and innovation.

Raquel Mendes, Head of Marketing, Communications and Brand at EDP Renewables, said: "We are delighted that private individuals and EDPR investors have granted us this honour. This is excellent acknowledgement of the effort we make every day to be percieved as a leading company."

Moray Offshore Renewables releases first local economic impact projections

Mon, 21 Nov 2011 00:00:00 GMT

At a media briefing in Inverness today, Moray Offshore Renewables Ltd published a report detailing the work it has undertaken over the past year to develop plans for 1 500MW offshore wind generation in the Outer Moray Firth.

The power will be generated by offshore wind turbines, capable of delivering up to 7MW each,. These utilise technology developed by the North Sea oil and gas industry and will allow development to take place in deeper water (up to 60m or 200 feet), in excess of 13 miles from shore. The power will be collected by up to eight offshore electrical platforms, before being sent to shore via a grid connection point at Peterhead Power Station.

The report summarises the investigations of the physical, biological and human environment which have been undertaken, and includes details of the new market for goods and services which the project will bring to the area.

Depending on the successful development of the local supply chain, companies operating in the Moray Firth area could take advantage of this new market, which could be worth hundreds of millions of pounds to the local economy. This could support between 360 and 1400 jobs during construction, and between 130 and 280 jobs through operation and maintenance.

The report will be made available to the public at exhibitions along the Moray Firth Coastline over the next three weeks.

Commenting, Managing Director of EDPR UK, Dan Finch said:

“Over the past year, we have worked hard to move offshore wind in deeper water from a proposal to a viable project. This report shows some of the work we have undertaken across a huge range of different environmental studies.

“In particular, the report examines some of the likely economic impacts of the project and demonstrates the size of the new market we will bring to the Moray Firth area, and to Scotland. We are keen to work with the Government and business agencies which will be able to develop the supply chain and turn this new market into jobs and economic growth."

EDPR awards 53 grants to support low-income students in Spain

Tue, 15 Nov 2011 00:00:00 GMT

EDPR continued its Green Education program on Nov. 8 by awarding 53 grants to promote education among Spanish students from disadvantaged families. The students selected were between age 4 and 17 and from the regions of Spain where EDPR has facilities. Because of the economic crisis, the number of grants increased and the total value tripled to €34,500.

"Education lies at the heart of our society's future. In light of the current context, we have to contribute to education as much as possible,” said Joao Paulo Costeira, CEO, Europe of EDP Renewables. “EDP Renewables is committed to society and local communities and this initiative is proof of that commitment."

The grants were awarded based on families’ income per capita and the students' academic marks. In addition to Spain, EDPR has also expanded the initiative this year to Portugal, Romania and Poland.

The amount of the award was €500 for nursery school children, €1,000 for first-year secondary school students and €2,000 for university students.

This year, 42 grants went to students in the community of Andalucia, as well as 11 to students in Castilla La Mancha and four from Asturias. Students were selected by a special commission from the Green Education program in partnership with EDP Renewables' HR department.

EDPR in the conference on opportunities in Poland

Tue, 08 Nov 2011 00:00:00 GMT

EDP Renováveis Chief Business Development Officer Luis Adão da Fonseca participated in the conference on opportunities in Poland sponsored by Portuguese newspaper Negócios. During his presentation, he announced an investment of 300 million euros that will help EDPR become a market leader in the coming year.

EDP Renováveis will invest 300 million euros in Poland next year. This amount will help the company become market leader in that country (EDP Renováveis’ current market share in Poland is 20%).

“We want to be the leader in most, if not all, of the countries in which we operate,” said Luis Adão da Fonseca. “Our competitors in Poland are present in over 20 countries. We are in only 11 - because we want to be the leader in all of them,” added the CBDO.

Luis Adão da Fonseca went on to say: “We will invest approximately 300 million euros next year in Poland. Our goal is to be the market leader. And with this investment, I believe we will be.” Thus Poland, which was one of the first countries EDP Renováveis ventured into, appears to be a secure investment for the company. Market leadership appears to be close at hand, thereby equalling a feat achieved by Jerónimo Martins in the distribution sector.

EDPR awarded in excellence

Mon, 31 Oct 2011 00:00:00 GMT

EDPR was awarded the first of three prizes given in the second edition of Excellence Prizes in Spanish Companies with Portuguese Capital, an initiative held by the Círculo de Empresarios y Gestores Españoles y Portugueses (CEGEP).

After the considerable task of compiling information related to every Portuguese company operating in the Spanish market, EDPR was distinguished as first in Excellence based on six quantitative criteria.

EDPR stands out in the creation of jobs and financial autonomy, as 77% of its assets are self-funded. Further, it is second in productivity.

EDP Renewables operational cash flow up 25% YoY to €491 million

Tue, 25 Oct 2011 23:00:00 GMT

Madrid, 26 October 2011: EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that in the first nine months of 2011, electricity output increased by 22% YoY to 12.0 TWh. Over the last 12 months, the company increased its installed capacity by 953 MW, of which 604 MW were added between January and September 2011 (around 75% of expected additions for FY 2011). Year on year, EDPR was able to maintain system-wide load factors of 28%, one of the highest in the industry, underlining the quality and diversification of its operational portfolio. By geographical markets, load factors reached 25% in Europe, 31% in the USA and 34% in Brazil.

9M 2011 revenues and EBITDA both grew 16% in line with strong operating growth, with an EBITDA margin of 71%. Revenues totalled €769 million on strong electricity output increases in the USA ( 28% YoY) and Europe ( 14% YoY) and a stable top-notch load factor of 28%.

Net profit for the first nine months of 2011 was €63 million, 2.8 times higher the €22 million registered for the same period last year. The bottom-line benefited from strong operating growth and higher asset useful life. Operational cash flow grew 25% YoY to €491 million in 9M11 and covered 95% of 9M capex.

Over the last 12 months, EPDR’s portfolio saw a turnaround with improved portfolio risk and continued commitment to high quality projects. The company’s consistent funding strategy has enabled it to keep cost of capital under control, with low refinancing risk and multiple sources of funding. Operating cash-flow is expected to continue to rise on the back of the capital invested in projects with strong remuneration visibility, above average prices and good load factors.

EDP Renewables grants University Challenge renewable energy awards to Spanish university students

Sun, 09 Oct 2011 23:00:00 GMT

Madrid, 7 October 2011: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, has announced the winner of the EDP University Challenge 2011 for students of Spanish universities. The award ceremony was presided by EDP Renewables CEO Ana Maria Fernandes and attendees included José Donoso and José María González Vélez, Presidents of the Spanish wind power associations AEE and APPA, respectively.

The five finalist groups presented their projects to the audience and the judging panel, which was comprised of: Julia Elizalde, Head of Communications and External Relations, Assistant Manager of CENER; Sergio de Otto, Director of External Relations at AEE; Telmo Vieira, Partner at Premivalor Consulting; Joaquín García Boto, Head of Project Development at EDP Renewables España and Estrella Martín, HR Director at EDP Renewables.

The five shortlisted projects were as follows:

“Hybrid photovoltaic/wind power generation system with hydrogen storage in the Dominican Republic” by the European University of Madrid
“District Heating: Clean Energy Technology” by the Gijón Technical School of Engineering of the University of Oviedo
“Repowering Spain's wind farms” by the Technical University of Madrid
“Hydro-wind power plants” by the Gijón Technical School of Engineering of the University of Oviedo
"Design for an off-shore wind farm” by the Gijón Technical School of Engineering of the University of Oviedo

The winning project was "Design for an off-shore wind farm”, presented by a group of students from the Gijón Technical School of Engineering of the University of Oviedo. The project was supervised by the Engineering faculty professor, David Ramón Núñez.

The winning team was awarded a study grant worth 10,000 Euros. The winning students will also be given the chance to carry out a three-month work placement at EDP Renewables, which is present in eleven countries. The professor who supervised the winning entry was also awarded a research grant worth 3,500 Euros.

This latest edition of the University Challenge achieved remarkable participation with over 30 entries. This meant that EDP Renewables was, on this occasion, able to select two of the shortlisted products for possible practical application within the company's project development framework.

EDP Renewables launched the EDP University Challenge in Spain in 2009 and in Portugal in 2007. Under the title "EDP and renewable energies: facing the future side by side", the company organised this annual contest in order to support universities in the practical application of academic knowledge for the development of projects or ideas in the field of renewable energies.

For further information about the EDP University Challenge in Spain, visit the EDP Renewables website:
http://www.edprenovaveis.pt/Sustainability/UniversityChallenge2011

EDP Renewables included in FTSE4Good index

Tue, 20 Sep 2011 23:00:00 GMT

Madrid, 21 September 2011: EDP Renewables (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, has been included in the FTSE4Good index following the benchmark’s September review. The FTSE4Good is a financial index that aggregates top performing companies for sustainability and corporate social responsibility. EDP Renewables, which is the only company from the energy sector out of the 22 new members which were included in the index as of close of business on Friday September 16, 2011.

Since its creation in 2001, the FTSE4Good Index Series has sought to help responsible investors to identify and invest in companies that meet globally recognised corporate responsibility standards, to provide asset managers with a responsible investment benchmark and a tool for responsible investment products and to contribute to the development of responsible business practice around the world. The FTSE4Good Index Series carries out semi-annual reviews in March and September.

To qualify for inclusion in the FTSE4Good Index Series, companies must be in the FTSE All World Developed Index. Eligible companies must meet criteria requirements in five areas: working towards environmental sustainability, upholding and supporting universal human rights, ensuring good supply chain labour standards, countering bribery and mitigating and adapting to climate change.

Ana Maria Fernandes, CEO of EDP Renewables, said: “To be included in the FTSE4GOOD Index is, without a doubt, an excellent recognition of the work performed year after year by everyone in the company to position EDP Renewables as a global leader in this area.”

The evaluation process which led to the inclusion of EDP Renewables in the FTSE4Good was carried out by ECODES, which has been assessing the non-financial aspects of EDP Renewables since the company was listed. The evaluation was based on publicly available information released by the company.

EDP Renewables inaugurates two wind farms in France

Sun, 18 Sep 2011 23:00:00 GMT

Madrid, 19th September: EDP Renewables (Euronext: EDPR), the world's third-largest wind energy producer, has inaugurated two new wind farms in France. The wind farms in Liniez – with a capacity of 15 MW – and Vatan – with 18 MW – are located in the department of Indre, in Central France. The combined annual output of these two wind farms will be enough to supply electricity for 33,000 people, more than the population of Vierzon, which is located a few miles away.

The inaugurations were attended by Frédéric Lanoë, Managing Director of EDP Renewables France and Belgium, and Jérôme Pécresse, Executive Vice President of Alstom and President of the French company's Renewable Power Division.

The Liniez and Vatan wind farms are equipped with Alstom wind power technology and deliver greater output than other facilities despite more moderate wind conditions, thereby guaranteeing optimum operating conditions for the region. EDPR has been using the 3 MW Alstom ECO 100 platform since 2009, making it a pioneer in this multi-megawatt technology of the future.

EDPR is actively committed to biodiversity conservation on every one of its projects. In this field, the company is about to sign a cooperation agreement with the association "Indre et Nature". The agreement involves cooperation on a long-term basis and aims to recover the biodiversity of a broad area proposed by the association.

EDPR currently operates 25 wind farms in France with a total installed capacity of 284 MW, making it the fourth largest wind power operator in the country. EDPR recently inaugurated the first ever wind farm in the department of Eure and laid the foundation stone for a facility in the department of Côte d’Or, which will have an installed capacity of 21.6 MW. The group has a project portfolio in France totalling 586 MW.

João Paulo COSTEIRA, Chief Operating Officer for EDP Renewables in Europe, said:
"The Liniez and Vatan wind farms, equipped with Alstom technology, show our commitment to a sustainable French wind power sector in collaboration with the country's major industrial players. We are delighted to have contributed to the success of the 3 MW model."

EDP Renewables 1H 2011 results with EBITDA up by 19% to € 409 million.

Tue, 26 Jul 2011 23:00:00 GMT

Operational cash flow grew by 49% to € 353 million

Madrid, 27 July 2011: EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that an additional 1.37 GW of capacity were installed over the last 12 months, of which 486 MW were added in 1H 2011 (around 60% of the expected installation for FY 2011). Electricity output in 1H 2011 increased by 27% YoY to 8.79 GWh. EDPR was able to maintain system-wide load factors of 32%, one of the highest in the industry, underlining the quality and diversification of its operational portfolio.

Revenues and EBITDA grew 18% and 19%, YoY, respectively, in line with strong operating growth and a higher EBITDA margin (75% in 1H 2011). By geographical markets, EBITDA grew 16% in Europe and 22% in the USA.

Net profit for 1H 2010 grew to € 90 million, reflecting the operating performance in the period, the extension of the operating assets’ useful life and the capital gain from the sale of the stake in SEASA. Operational cash flow grew 49% YoY to €353 million in 1H11 and more than covered the €345m 1H 2011 capex.

In the course of the first half 2011, in Spain EDPR assumed full control of GENESA (1.7GW of capacity) of which it already held 80%, and won a public tender with 127MW in the region of Aragon. In Romania, the company completed project finance for a total of 228MW and in Brazil for 70MW. In the UK, EDPR signed a cooperation agreement with Spanish energy company Repsol for the joint development of 2.4GW offshore capacity in Scotland. In the United States, EDPR won a long-term contract for 45MW and established a new institutional partnership structure for a further 99MW.

EDP Renováveis executes project finance for 70 MW in Brazil

Mon, 25 Jul 2011 23:00:00 GMT

Rui Teixeira named Best CFO in 2010

Thu, 07 Jul 2011 23:00:00 GMT

EDPR Chief Financial Officer Rui Teixeira was named Best CFO of 2010 during the Investor Relations & Governance Awards for the Portuguese market that took place on July 7 in Lisbon.

The prestigious award not only represents the great work of Rui Teixeira, but the efforts of the entire Investor Relations team. The criteria for the Best CFO award included knowledge of the business and industry, display of communication skills and strategic vision, and contribution to the overall performance of the market.

The annual award ceremony, which is in its 24^th year, is an initiative of Deloitte, the UK-based financial services firm, and the Portuguese economic newspaper, Diário Económico. The awards are promoted nationally, and recognize the best performance of investor relations professionals working at companies listed on Euronext Lisbon.

EDP Group also took home an award for Best Annual Report, for its excellence in accuracy, transparency, thoroughness and clarity.

For more information on the Investor Relations & Governance Awards visit www.irgawards.com

EDP Renováveis unveils new dynamic brand

Thu, 30 Jun 2011 23:00:00 GMT

MADRID, JULY 2011: EDP Renováveis (EDP Renewables, EDPR) unveiled a new brand on July 1 as part of a global campaign launched by parent company EDP Group.

The new logos and branding campaign reaffirm the strategy of internationalization for EDP and EDPR and create a clear, unified brand identity across every EDP business worldwide. The new brand represents the core values of The EDP Group: humanism, innovation and sustainability.

EDPR´s North American business, previously known as Horizon Wind Energy, has also adopted the new brand and changed its name to EDP Renewables North American LLC, aligning EDPR´s North American identity with operations in Europe and Brazil.

“This marks the first time that the Horizon name is not used since the business was acquired by EDPR in 2008,” said EDPR CEO Ana Maria Fernandes. “ This is an important step in integrating the business and creating a strong global brand.”

EDPR's new dynamic logo is made up of four basic shapes that unfold into an infinite world of combinations: a square, triangle, circle and half circle. Rather than just one logo, EDPR now has seven different logos that adapt to different contexts. All have a common look and feel, and unique monogram with script lettering that makes the brand distinctive. The name EDP is always present, making it the common denominator across all the logos for all EDP businesses.

The modern, flexible and adaptable brand is meant to reflect the change and growth within the EDP Group. The new brand will adapt and grow with the company, as well as create a single, easily recognizable identity worldwide.

EDPR establishes a partnership for the development of 2.4 GW wind offshore capacity in the UK

Mon, 06 Jun 2011 23:00:00 GMT

EDP Renováveis, SA (“EDPR”) announces today its entry into a partnership with Repsol Nuevas Energias, SA (“Repsol”) to jointly develop up to 2.4 GW of offshore wind projects in the UK. EDPR will lead the partnership with a 60% share in the overall capacity to be developed.

Following Repsol’s acquisition of the entire share capital of SeaEnergy Renewables Limited (“SERL”) from SeaEnergy PLC and SERL’s subsequent restructuring, EDPR will hold the following interests in the various offshore projects:

67% of Moray Offshore Wind Limited (“MORL”), previously held at 75% by EDPR and 25% by SERL: MORL is developing up to 1.5 GW at Zone 1 of UK Round 3 offshore wind farm leasing programme conducted by The Crown Estate;
49% of Inch Cape Offshore Wind Limited (“Inch Cape”) previously held at 100% by SERL: Inch Cape is developing up to 0.9 GW in the outer Firth of Tay region pursuant to an Agreement for Lease with The Crown Estate under the Scottish Territorial Waters leasing programme.

The acquisition of SERL by Repsol is subject to approval by the shareholders of SeaEnergy PLC and is expected to be completed by 30 June 2011. The full transaction scope is also subject to approval by The Crown Estate.

The MORL and Inch Cape project companies are currently in the process of securing the required consents for their respective offshore wind developments and ancillary infrastructures.

With this new partnership, EDPR increases its pipeline in the offshore wind technology, thereby enlarging and diversifying the company’s long term profitable growth options and balancing its risk, while partnering with Repsol, a 1st class company in the Energy Sector with a strong commitment to develop offshore wind capacity.

EDPR is awarded new long-term contract in the US

Thu, 02 Jun 2011 23:00:00 GMT

EDP Renováveis SA (“EDPR”), through its fully owned subsidiary Horizon Wind Energy LLC (“Horizon”), was awarded a 10-year contract by the New York State Energy Research and Development Authority (“NYSERDA”) in conjunction with the Public Service Commission (“PSC”) to sell the renewable energy credits (“RECs”) equivalent to 45 MW from its Marble River Wind Farm project in the New York state, expected to be commissioned in 2012.

This agreement follows the contract awarded in April 2010 also from NYSERDA and PSC to sell for 10-years the RECs equivalent to 171 MW of the Marble River Wind Farm, bringing the total contracted capacity to 216 MW.

EDPR keeps its commitment to install capacity with high top-line visibility for the long-term.

EDP Renewables opens a new wind farm in France

Mon, 30 May 2011 23:00:00 GMT

The company now has 25 wind farms in the country

Madrid, 27 May 2011: EDP Renewables (Euronext: EDPR), the world's third-largest wind energy producer, has opened a new wind farm in France. The Roman Blandey wind farm is the first to begin operation in l’Eure, Upper Normandy, and has an installed capacity of 10 MW.

The wind turbines installed at the Roman Blandey wind farm provide increased output in areas of weak or moderate wind, which are usual in the area.

EDP Renewables currently has 25 wind farms in France with an installed capacity of 284 MW, as well as another 991 MW in the pipeline.

Joao Paulo Costeira, Chief Operating Officer of EDP Renewables for Europe, said: “The Roman Blandey wind farm strengthens our commitment to wind power in France. Gradually, thanks to projects like this one, we are contributing significantly to reducing global warming through clean, durable energy”.

Frédéric Lanoë, Managing Director of EDP Renewables France and Belgium and Nicolas Wolf, Managing Director of Vestas France, also attended the inauguration.

Commitment to the community

The company’s strong commitment to the local community is reflected by the open doors session to be held at the Roman Blandey wind farm tomorrow, 28th May, to raise awareness among the local population of the social and environmental benefits of renewable energies and wind power in particular.

The company will also present an award to the winners of a competition organised among local schools for students to design a wind-power related project.

EDP Renewables announces its 1Q2011 results: EBITDA grows 19% to €220 million and net income rises 16% to €49 million

Tue, 03 May 2011 23:00:00 GMT

Madrid, 4 May 2011: EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced its results for the Q1 2011 period.

During the first quarter, the company increased its capacity by 188 MW. EDPR currently has a total installed capacity of 6.9 GW. The company's electricity output rose by 21%, driven by strong performance of the US assets. Between January and March 2011, EDPR maintained a load factor of 33%, one of the highest in the industry, underlining the quality and diversification of its operational portfolio.

During the first quarter of the year, EDPR’s revenues reached 284 million Euros, showing an increase of 17% while EBITDA margin remained stable at 77% underpinning a 19% rise in EBITDA to 220 million Euros. Net income grew 16% to €49 million, reflecting the company's strong operational efficiency.

Cash flow, registered at €173 million, represented a year-on-year increase of 18%, confirming the quality of the wind farm portfolio and permitting a €0.2 million reduction of debt.

This quarter was especially important for EDPR thanks to the acquisition in March of Caja Madrid’s 20% minority participation in GENESA for €231 million (to be paid in Q2 2011). Following this acquisition, EDP controls 100% of the company, strengthening its position in the Spanish market. At the end of 2010, Genesa had 1.7 GW in installed wind power capacity and 50 MW under construction.

EDPR expects to close 2011 with a diversified portfolio of assets under management totaling 7.5 GW.

Analysts recognize EDP Renováveis

Fri, 11 Mar 2011 00:00:00 GMT

A survey conducted by Institutional Investors interviewing investment analysts recognizes the investor relations work performed by EDP Renováveis as the best among renewable energy companies

Rui Teixeira (CFO) and Rui Antunes (IR Director) were recognized as the best in their categories

Madrid, 11 March 2011: EDP Renováveis (Euronext: EDPR), world leader in the renewable energies sector and third largest wind power producer in the world was recognized by Institutional Investors, a leading financial information publishing group in Europe and America, as the best renewable energies Company for its investor relations strategy in 2011.

EDPR’s recognition came after analyzing various surveys answered by investment managers (buy-side) and securities houses (sell-side) when they were asked to vote on which entities offered the best investor relations services. A majority of those surveyed chose EDP Renováveis over other companies in the renewable energies sector. Accordingly, the company’s IR Director Rui Antunes was recognized for a second consecutive year as the best at his job among renewable energy companies.

Company executive Rui Teixeira was voted best CFO in the sector, as per the analysts’ responses.

Ana María Fernandes, EDP Renováveis CEO said: “We are very proud to receive this recognition. I would especially like to congratulate the investor relations team and the financial team. This recognition encourages us to keep working toward the same goal."

EDPR currently boasts an installed capacity of 6.7 GW all over the world.

EDP Renewables FY 2010 results with EBITDA up by 31% to € 713 million

Thu, 24 Feb 2011 00:00:00 GMT

Operational cash flow up by 45% to € 567million

Madrid, 24 February 2011: EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that an additional 1.1 GW of capacity had been installed during 2010, a 20% growth reaching a total of 6.7 GW worldwide. The company’s electricity output rose by 32%, reaching 14.4 TWh.

EDPR was able to maintain system-wide load factors of 29%, one of the highest in the industry, underlining the quality and diversification of its operational portfolio. Gross profit rose by 31% to € 948 million in 2010, in line with electricity output and price stability. The EBITDA margin, stable at 75%, reflecting operational efficiency, supported a 31% growth in EBITDA to € 713 million.

Financial expenses totalling € 174 million, on the back of debt increase to fund capacity growth and controlled funding costs at 5.2% fixed rate, on debt denominated in Euros, US Dollars, Polish Zloty and Brazilian Reals. Net profit for the full year 2010 ended at € 80 million.

Cash from operations rose 45% to € 567 million, reflecting the cash generating capabilities of the existing assets. Operational cash flow, combined with tax credit monetisation in the US of € 398 million, totalled approximately 70% of the € 1.4 billion capex programme in 2010.

At present, EDPR already has a further 649MW under construction, of which 480 MW are in Europe, 99 MW in the USA and 70 MW in Brazil. In the course of 2011, EDPR expects to be adding 800-900 MW in total to installed capacity.

EDP Renewables inaugurates the Terra Fria wind farm in Montalegre, Portugal

Fri, 21 Jan 2011 00:00:00 GMT

The project has installed windpower capacity of 96 MW

Madrid, 21 January 2011: EDP Renewables, the world’s third-largest wind power producer, through Eneop 2 (in which it is the principal shareholder with a 40% stake), has today inaugurated the Terra Fria wind farm in Montalegre, Portugal, with an installed capacity of 96 MW. The opening ceremony was attended by the Portuguese Prime Minister, José Sócrates.

As of September 2010, EDP Renewables had a total of 135 wind farms across the Iberian Peninsula (39 in Portugal and 96 in Spain) with a combined installed capacity of 2,630 MW, as well as a stake in 21 wind farms through Eneop 2.

The Terra Fria wind farm, located just outside the city of Chaves in Northern Portugal, will provide an estimated output of 250 GWh per year, enough energy to supply a population of 140,000. Construction of the farm, which currently comprises 48 Enercon E82 wind turbines, began in April 2009.

Ana Maria Fernandes, CEO of EDP Renewables, said: “The Terra Fria wind farm in Montalegre further strengthens our commitment to wind power in the Iberian peninsula and particularly in Northern Portugal. Through projects like this one, we are gradually helping to reduce dependency on imported energy”.

EDP RENEWABLES signs new PPA for 99 MW in the US

Mon, 15 Nov 2010 00:00:00 GMT

Madrid, 3 November 2010: EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, through its fully owned subsidiary Horizon Wind Energy LLC (“Horizon”), has signed a 20-year Power Purchase Agreement (“PPA”) for a 99 MW wind farm in the PJM interconnection area, expected to be fully commissioned in 2011.

In 2010, EDPR already managed to close 385 MW of long-term contracts backed on an origination team with an accumulated experience of closing over 2,000 MW of PPAs.

EDPR in the US is focusing its growth to contracted capacity and expects to install 0.2 GW per year in 2011 and 2012. With this new contract, the expected capacity to be installed in the US for this period covered by long-term agreements, increases to 70%.

About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR), headquartered in Madrid, Spain, is a global leader in the renewable energy sector that designs, develops, manages and operates power plants that generate electricity using renewable energy sources. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years. Energias de Portugal, S.A. ("EDP"), the majority shareholder of EDPR, is a vertically-integrated utility company, headquartered in Lisbon, Portugal. Through its various constituent businesses, EDP holds significant electricity and gas operations in Europe, Brazil and the United States.

EDP Renewables 9M 2010 results show EBITDA growth of 28% to € 473m

Thu, 04 Nov 2010 00:00:00 GMT

Madrid, 3 November 2010: EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that gross profit increased 34% between January and September 2010 to €662 million and that EBITDA grew 28% to €473 million, with an operational cash flow growth of 26% to €391million. The business seasonality profile in the 3Q associated with new costs driven by the capacity commissioned in the 3Q10 and the fixed cost structure related to depreciation charges and debt interest costs, led to a net profit of €22m.

Electricity output increased by 35% to a total of 9.8TWh in the nine months, of which 47% came from Europe and 53% from the USA. Quarterly production was up 41% to 2.9 TWh.

CapEx for 9M 2010 reached 1.12bn Euros, 25% less than for the same period in 2009, with net debt increasing to 2.9bn Euros.

EDPR installed capacity has risen by 0.7GW since January, reaching 6.2 GW at the end of September 2010, representing a year-on-year increase of 1.3 GW or 27%. At present, EDPR has a further 0.9 GW under construction, of which 703 MW are in Europe, 122 MW in the US and 70 MW in Brazil.

For the full year of 2010, EDPR expects to install 1.1 GW, while for 2011/12, EDPR is adjusting the overall annual additions to 0.8-0.9 GW per year in order to focus on investments that will improve its portfolio risk profile.

EDP Renewables shows consistent financial and operational growth for H1 2010

Tue, 27 Jul 2010 23:00:00 GMT

Madrid, 28 July 2010: EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that gross profit increased 30% for the period January to June 2010 to €462 million and EBITDA grew 27% to €343 million, with an EBITDA margin of 74%. The company registered net profits of €43 million for the period.

Total gross profit reached €462 million, a 30% increase on H1 2009, which was mainly driven by output growth in all regions but especially in Europe. EDP Renewables registered an increase in gross profit of €75 million in Europe in H1, compared with an increase of €31 million in the US. These figures are reflected by the company's EBITDA, which rose by €60 million in Europe and by €15 million in the US.

During the period, the company's investments totalled €834 million. The company currently has 1,317 MW under construction, of which a total of 509 MW is located in the US and 466 MW is located in the Iberian Peninsula. A significant amount of investment was directed to Central and Eastern Europe, in particular to Romania. EDP Renewables currently has 613 MW in the project stage and 228 under construction in this market where new legislation governing wind power has just been approved which entails, among other things, an incremental increase of the percentage of energy production from renewable sources, reaching 20% in 2020. EDPR thereby demonstrates, once again, its commitment to investing in a diverse range of attractive regions.

The 1,033 MW year-on-year growth in installed capacity was key to obtaining the 32% increase in output, which reached 6,940 GWh. During H1, installed capacity increased by 216 MW, with 125 MW corresponding to Europe and 92 MW to the US. EDP Renewables' installation planning is focused on the final part of the year and is determined by the wind farm construction schedule. At the close of H1, EDP Renewables had 1.3 GW under construction, of which 740 MW is located in Europe, 509 MW in the US and 70 MW in Brazil.

The drop in load factor in the US was balanced out by the growth in load factor in Europe, which increased from 25% in the first half of 2009 to the 29% registered in the last six months. EDP Renewables' system wide load factor remains stable at 31%, which is higher than the sector average.

EDP Renewables continues to successfully manage its project portfolio, with a focus on controlling exposure to power market volatility. 81% of the electricity output between January and June 2010 was sold with no exposure (or limited exposure) to market volatility and the average selling price stood at €59/MWh (€84/MWh in Europe and $49/MWh in the US). The portfolio's average performance remained stable in an environment characterised by tough prices, especially in Spain, which were partly mitigated by a hedging strategy.

H1 highlights

In the first six months of 2010 the company's continued flexibility in terms of output was key for its ability to remain competitive. The company signed an unprecedented framework agreement with the wind turbine provider Vestas which will increase competitiveness and give it the flexibility it needs to be ready for the different market scenarios that could arise after 2010.

EDP Renewables continues to optimise its asset portfolio in terms of geographical regions and regulatory frameworks to obtain the best possible balance between output and growth. As one of the major highlights of the first half of 2010, the Crown Estate, which supervises state-owned land in the UK, granted EDPR the contract for an area in the Moray Firth (Scotland) to develop off-shore wind farms with installed capacity of almost 1.3 – 1,5 GW. This concession forms part of the UK Round 3 awards and EDP Renewables was granted the operation through a company in which it owns a 75% stake.

In continental Europe, the purchase of 520 MW in wind power projects in Italy and the sale of Green Certificates generated by the company's 120 MW Margonin wind farm in Poland are both worth highlighting. This last achievement allows the company to guarantee a significant part of its revenues in the Polish market. In Spain, the Cantabria Regional Government recently awarded EDP Renewables maximum power of 220 MW in the A zone of Campoo-Los Valles within the framework of the wind power tender initiated by the region at the beginning of the year. EDP Renewables was awarded the largest share of all participants in the tender.

In the US, EDP Renewables signed a 20-year PPA to provide 115 MW of renewable wind power to the Tennessee Valley Authority (TVA), to be supplied from the first phase of the Pioneer Prairie Wind Farm, located in Iowa. The company was also awarded a contract by the New York State Energy Research and Development Authority (NYSERDA) in conjunction with the Public Service Commission (PSC) to sell renewable energy credits for ten years equivalent to 171 MW from its Marble River Wind Farm, currently under development in Clinton County, New York.

EDP Renewables begins the second phase of construction of the first Spanish wind farm to be built with an aerial crane

Tue, 20 Jul 2010 23:00:00 GMT

EDP Renewables has begun construction of the second phase of its Cariondo wind farm in the municipality of Pola de Allanda, Asturias. The innovation lies in the fact that the turbine blades for the wind farm are being carried by aerial cranes, which considerably reduces the environmental impact when compared to the traditional transportation of blades to each turbine's site, by lorry. Carondio is the first wind farm in Spain and the second in Europe to use this innovative system in its assembly process.

The transfer of the blades is being carried out in two phases - the first was completed in June and the second begins today. The rest of the elements that make up the wind farm, such as towers and nacelles, will be transported using standard land processes. The individual blades are carried directly from Campa de Navia, which is 23 km from the wind farm. The aerial crane, an Erickson S-64 designed for the transportation of very heavy cargo, is piloted by American experts and, with the right weather conditions, can carry 18 blades a day.

The blades are the largest component of a wind turbine and as they cannot be dismantled, transporting them is complex. The blades to be installed at the Carondio Wind Farm are 39m long, are made of fibreglass impregnated with epoxy resin and weigh 6,500 kg. each.

The wind turbines installed in the farm are G80 models supplied by Gamesa, which is also in responsible for the assembly.

The wind farm will have 25 turbines in total and when operational, it will have an installed capacity of 50 MW.

Aided by projects such as this one by EDPR Renewables, Spain is becoming the world's fourth largest wind power operator. The company has pre-qualified projects totalling 850 MW for 2010, the maximum capacity allowed by the Ministry of Industry this year.

Closing of VENTO III institutional partnership structure throught the sale of the remaining stake amounting to $ 141

Sun, 27 Jun 2010 23:00:00 GMT

EDP Renováveis, S.A. (“EDPR”), through its fully owned U.S. subsidiary Horizon Wind Energy LLC, has secured $141 million of institutional equity financing from Wells Fargo Wind Holdings LLC (“Wells Fargo”) in exchange for an interest in the Vento III portfolio.

With this new investment by Wells Fargo, EDPR has raised a total of $517 million through Vento III and closed all its funding needs. The transaction accelerates the monetization of tax benefits generated by the wind farms and improves the projects’ economics.

Vento III is a 604 MW portfolio of wind farms structured in December 2008 and consists of Rattlesnake Road, Pioneer Prairie, and Meridian Way. $376 million was previously funded by JPM Capital Corporation, New York Life Insurance Co., New York Life Insurance & Annuity Corp., and GE Energy Financial Services.

EDP Renewables registers double-digit growth in Q1 2010

Tue, 04 May 2010 23:00:00 GMT

Madrid, 5 May 2010: EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that gross profit increased 22% between January and March 2010 to €242 million and EBITDA grew 20% to €185 million, with an EBITDA margin of 76%. The net profit of €43 million for Q1 2010 shows a 15% decrease, due to lower wind resources in the US and to higher depreciations charges in line with the increase in installed capacity.

Despite the drop in load factor in the US to 31%, EDPR was able to maintain an average load factor of 33% across its network - considerably higher than the sector average - thanks to an increase in European load factor from 28% to 34%.

Electricity output increased by 28% to a total of 3,639 GWh in the quarter, which represents growth of 60% in the European market and 6% in the US market.

Gross installed capacity has risen by 1,094 MW since Q1 2009, reaching 6,259 MW at the end of March 2010. By markets, gross installed capacity for this period increased by 602 MW in the US and by 492 MW in Europe.

EDP Renewables' project portfolio management continues to successfully control short term exposure to power market volatility. 81% of the electricity output between January and March 2010 was sold with no exposure (or limited exposure) to market volatility and the average selling price of €60/MWh remained stable.

Capex in the period reached €382 million, of which €55 million corresponds to projects in process, €316 million to projects under construction and €11 million to projects in the planning stage. By markets, the €316 million invested in projects under construction are distributed as follows: 421 MW in Iberia, 266 MW in the rest of Europe, 398 MW in the US and 70 MW in Brazil. This last amount corresponds to a wind farm in Tramandaí, construction of which began in March.

In the first three months of 2010 the company's continued flexibility in terms of output was key to its ability to remain competitive. The company signed an unprecedented framework agreement with the wind turbine provider Vestas which will increase competitiveness and give it the flexibility it needs to be ready for the different market scenarios that could arise after 2010.

EDP Renewables continues to optimise its asset portfolio in terms of geographical regions and regulatory frameworks to obtain the best possible balance between output and growth. As one of the major highlights of the first quarter, the Crown Estate, which supervises state-owned land in the UK, granted EDPR the contract for an area in the Moray Firth (Scotland) to develop off-shore wind farms with installed capacity of almost 1.3 GW. This concession forms part of the UK Round 3 awards and EDP Renewables was granted the operation through a company in which it owns a 75% stake.

In the US, EDP Renewables signed a 20-year PPA to provide 115 MW of renewable wind power to the Tennessee Valley Authority (TVA), to be supplied from the first phase of the Pioneer Prairie Wind Farm, located in Iowa. EDP Renewables was also awarded a contract by the New York State Energy Research and Development Authority (NYSERDA) in conjunction with the Public Service Commission (PSC) to sell renewable energy credits for ten years from its 170 MW Marble River Wind Farm, currently under development in Clinton County, New York.

About EDP Renewables (EDPR)

EDP Renewables (Euronext: EDPR), headquartered in Oviedo, Spain, is a global leader in the renewable energy sector that designs, develops, manages and operates power plants that generate electricity using renewable energy sources. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years. Energias de Portugal, S.A. ("Energias de Portugal, S.A. ("EDP"), the majority shareholder of EDPR, is a vertically-integrated utility company, headquartered in Lisbon, Portugal. Through its various constituent businesses, EDP holds significant electricity and gas operations in Europe, Brazil and the United States. For further information, please visit www.edprenovaveis.com.

EDP Renováveis awards a procurement contract to deliver up to 2.1 GW of wind capacity

Sun, 25 Apr 2010 23:00:00 GMT

Lisbon, 26 April 2010: EDP Renewables (EDPR), the world’s third-largest wind power company, has signed a wind turbine procurement contract for the supply of up to 2,100 MW. EDPR has awarded the order to Vestas after a competitive process initiated one year ago.

Today (on 26 April), the official signature of the contract between EDPR and Vestas will take place in Lisbon, Portugal.

The contract, a Master Supply Agreement (MSA) for up to 2,100 MW, consists of a firm order for supply, installation and commissioning of wind turbines with a total capacity of 1,500 MW to be delivered to North America, South America and Europe in 2011 and 2012 with the possibility to be extended by an additional 600 MW exercisable in 2010 and 2011. The agreement also includes a two-year service and maintenance agreement extendable to five or ten years, with subsequent Technical Assistance Agreement for an additional period.

This MSA agreement, one of the largest global wind turbine orders ever announced worldwide, sends a positive sign of renewed growth to the entire wind industry.

Through a strict competitive process, EDPR selected Vestas among other major wind turbine manufacturer companies around the world as the player that provided the best value fit to EDPR’s short and medium-term strategic business goals.

Ana Maria Fernandes, CEO of EDPR: “Through this agreement, EDPR contracts from Vestas the wind turbine technology that optimises productivity factors of our pipeline and the total cost of ownership, enabling EDPR to have a competitive edge within the wind developing industry.”

“It has been a long and highly competitive process which today materialises in the signing of this agreement which will further improve EDPR’s positioning in the industry”, Ana Maria Fernandes added.

Juan Araluce, President of Vestas Mediterranean, expresses: “We are very pleased to sign this important agreement with EDPR, who is a global key player in the wind energy industry, with whom at the end of 2009, Vestas had installed a total capacity of approximately 2,500 MW worldwide representing around 40 per cent of EDPR’s total global wind capacity.”

He emphasises: “Our continuous focus on top performance and reduction of cost of energy together with our flexibility in deliveries and our worldwide footprint allow us to provide business case certainty and long-term visibility to global customers, such as EDPR, and to our business.”

Webcast

The webcast of the official signature of the MSA between Vestas and EDPR and press conference can be followed live on http://www.edprenovaveis.com and www.vestas.com.

About EDP Renewables (EDPR)

EDP Renewables (Euronext: EDPR), headquartered in Madrid, Spain, is a global leader in the renewable energy sector that designs, develops, manages and operates power plants that generate electricity using renewable energy sources. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years. Energias de Portugal, S.A. ("EDP"), the majority shareholder of EDPR, is a vertically-integrated utility company, headquartered in Lisbon, Portugal. Through its various constituent businesses, EDP has significant electricity and gas operations in Europe, Brazil and the United States. For more information visit www.edprenovaveis.com.

About Vestas

Vestas is a global company that holds more than 30 years of expertise and know-how in the field of wind power. With an installed base of more than 40,600 turbines or 38,300 MW around the globe, Vestas is the world’s leading and committed supplier of wind power solutions. Para más información, puede visitar www.vestas.com

EDP Renewables North America is Awarded Contract by NYSERDA

Sun, 11 Apr 2010 23:00:00 GMT

Houston, April 12, 2010. EDP Renewables (the third largest wind operator in the world), through its subsidiary Horizon Wind Energy, has just been awarded a contract by the New York State Energy Research and Development Authority (NYSERDA) in conjunction with the Public Service Commission (PSC) to sell renewable energy credits, the clean environmental attributes of wind power, for a volume equivalent to 171 MW of capacity for ten years from its Marble River Wind Farm, currently under development and located in Clinton County, New York. The contract award is from NYSERDA’s fifth competitive solicitation and will be funded through the New York Renewable Portfolio Standard (RPS), which supports and finances the development of renewable energy resources that will help reduce harmful emissions, increase energy security, and build a clean energy economy.

“EDP Renewables is pleased to be able to continue its relationship with NYSERDA with this contract award and we look forward to continuing to provide clean renewable energy to the State of New York and its consumers,” said Ana Maria Fernandes, Chief Executive Officer of EDP Renewables. “This contract provides us increased optionalities for our 2011-12 build out prospects in one of the most attractive energy markets within the United States.”

In 2004, New York established a Renewable Portfolio Standard as a policy to increase the amount of renewable energy used by New York consumers to 25 percent by the year 2013. Last year, the New York Public Service Commission, acting on a goal set by Governor David Paterson, expanded the RPS goal to increase the proportion of renewable electricity sold in New York from 25 percent to 30 percent by 2015. To meet this goal, NYSERDA conducts competitive solicitations to award contracts for projects that deliver renewable energy to the New York wholesale power market.

EDP Renewables has over 950 MW in development in New York State and through a 50/50 joint venture owns and operates the 322 MW Maple Ridge Wind Farm in Lewis County. The clean, renewable electricity produced by Maple Ridge Wind Farm flows directly into the New York state energy grid. The Renewable Energy Credits (RECs) from Maple Ridge have been contracted to NYSERDA and to the New York Power Authority (NYPA) and various third parties since January 2006.

EDP Renewables Brazil builds a 70 MW wind farm in Rio Grande do Sul

Wed, 24 Mar 2010 00:00:00 GMT

Sao Paulo, 24 de marzo de 2010: EDP Renewables, an EDP Group company, announces that the ground-breaking ceremony of its third wind farm in Brazil, based in Tramandaí, Rio Grande do Sul is to take place today, Wednesday 24th March at 10 am.

The Tramandaí Wind Farm hás a installed capacity of 70 MW and an estimated production of 211,437 MWh per year, enough to supply a city of 200,000 inhabitants.

When the project is completed, which is expected to be at the end of this year, the company will have a wind power generation capacity of 84 MW, 13.8 MW of which corresponds to two already-operational parks in Santa Catarina. With all production fully contracted within the Brazilian Government's PROINFA renewable energy incentive programme, the Tramandaí project will comprise 31 wind turbines (from 1.9 to 2.3 MW) with 98-metre towers and 40-metre blades, reaching a total height of 138 metres, equivalent to a 50-storey building. To give an idea of its scope, a single 2.3 MW wind turbine produces 3 to 5 million kWh per year of clean energy - the amount consumed by 1,600 homes or 6,400 people.

The Tramandaí Wind Farm strengthens EDP Group's firm, strategic commitment to wind power and responds to Brazilian parent company’s need for clean energy to complement its hydro-electric and thermal energy production. As Brazil's economy grows the country will need new alternative energy sources. As well as being environmentally friendly, renewable energies allow for a considerable reduction of Brazil's dependency on foreign energy.

For this purpose, EDP Group can contribute its global experience through EDP Renewables, the world's third largest wind power producer.

Located in the south of the city of Tramandaí in an area of 832 hectares, the wind farm should generate almost 1,000 jobs during peak construction periods, when the access roads, foundations, towers, sub- station and transmission lines are built.

EDP Renewables was awarded the license to build the wind farm in January this year by the Brazilian Government's State Foundation of Environmental Protection (Fepam). After a two-year process, the company has now obtained the required regulatory permits, including provisions for the protection and control of migrating birds and the preservation of native flora and fauna.

EDP Renewables Brazil–which is focused on wind power generation in Brazil – is owned by EDP Renewables (55%) and EDP Energias Do Brasil (45%)

EDP Renováveis delivers leading growth in the global wind energy sector

Thu, 25 Feb 2010 00:00:00 GMT

EDP Renováveis (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and fourth largest producer of wind energy in the world, announced a net profit of €114m in 2009, 10% up on 2008’s €104m profit. 2009 Gross profit grew by 25% to €725m, and EBITDA rose by 24% to €543m, with an EBITDA margin of 75%.

Total production of electricity rose by 40% to 10.907 GWh of which 54% was derived from the USA, 30% from Spain and 16% from Portugal.. EDPR continues to work hard at ensuring long term contracts to stabilise prices and facilitate operational and financial planning. A good example of this is the 20 year Power Purchasing Agreement signed recently with the Tennessee Valley Authority for supply from EDPR’s 115 MW Pioneer Wind Farm in Iowa.

Installed gross capacity increased 26% by 1.2 GW to 6,227 MW, giving a compounded annual growth rate of more than 40% since 2006.

The project pipeline grew by 3.9 GW to 32.1 GW, of which 739 MW are already under construction. EDPR continues to balance its asset portfolio in geographical and regulatory terms in order to achieve the best balance for performance and growth, as shown by acquisition of assets and projects in Brazil and the USA. This year, EDPR has already committed to projects in Italy and in the UK offshore wind plan, where it was awarded 1.3GW in partnership with SeaEnergy in a highly contested bidding round.

2009 total investment value amounted to €1,846m of which €826m (45%) were allocated to the US and €1,020m (55%) to Europe. In the US, EDPR successfully monetised $687m of tax incentives.

About EDP Renováveis

EDP Renováveis (Euronext: EDPR), headquartered in Oviedo, Spain, is a global leader in the renewable energy sector that designs, develops, manages and operates power plants that generate electricity using renewable energy sources. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years. Energias de Portugal, S.A. ("EDP"), the majority shareholder of EDPR, is a vertically-integrated utility company, headquartered in Lisbon, Portugal. Through its various constituent businesses, EDP holds significant electricity and gas operations in Europe, Brazil and the United States.

EDP Renewables North America Signs PPA with Tennessee Valley Authority

Wed, 17 Feb 2010 00:00:00 GMT

EDP Renewables (the fourth largest wind operator in the world), through its subsidiary Horizon Wind Energy, has just entered into a 20-year Power Purchase Agreement with Tennessee Valley Authority (TVA) to sell 115 MW of renewable wind energy from the first phase of its Pioneer Prairie Wind Farm located in Mitchell and Howard Counties in Iowa. Energy from Pioneer Prairie Wind Farm will be delivered to homes and businesses in TVA’s service area in parts of seven southeastern states.

“We are pleased that this marks our first Power Purchase Agreement with TVA,” said Ana Maria Fernandes, Chief Executive Officer of EDP Renewables. “We look forward to a long partnership with TVA to supply their customers with pollution-free wind energy.”

The Pioneer Prairie Wind Farm, which is located in Iowa along the Minnesota state line in Howard and Mitchell counties, has an installed capacity of 300 MW - enough to power more than 90,000 American homes annually. EDP Renewables North America, through its subsidiary Horizon Wind Energy, also has a long term power purchase agreement in place to sell 102.3 MW of renewable energy from the second phase of Pioneer Prairie Wind Farm to AmerenUE.

About TVA
The Tennessee Valley Authority, a corporation owned by the U.S. government, provides electricity to 156 local power distributors that serve 9 million people in parts of seven southeastern states at prices below the national average. TVA, which receives no taxpayer money and makes no profits, also provides flood control, navigation and land management for the Tennessee River system and assists utilities and state and local governments with economic development.

About EDP Renewables North America
With over 20 offices and 22 wind farms across the United States, EDP Renewables North America has developed more than 3,400 MW and operates over 2,800 MW of wind farms.

EDP Renewables North America is owned by EDP Renováveis S.A. (“EDPR”), a global leader in the renewable energy sector. EDPR has undergone exceptional development in recent years. Its installed capacity increased four-fold between 2005 and 2007, becoming the fourth largest wind energy company in the world. EDPR is listed on the Euronext Lisbon Stock Exchange.

Energias de Portugal, S.A. (“EDP”), the parent company of EDPR, is a vertically-integrated utility company, headquartered in Lisbon, Portugal. Through its various constituent businesses, EDP holds significant electricity and gas operations in Europe, Brazil, and the United States.

EDP Renováveis enters the Italian wind market through the acquisition of 520 MW wind energy projects

Wed, 27 Jan 2010 00:00:00 GMT

Madrid, January 27th, 2010

EDP Renováveis S.A. (“EDPR”) acquires 85% of Italian Wind srl, from Co-Ver group (an industrial conglomerate from the north of Italy), adding to its portfolio several wind projects in Italy totalling 520 MW in different stages of maturity and in prime locations: i) 4 wind projects totalling 108 MW classified as Tier 2; ii) 98 MW of projects classified as Tier 3; and iii) 314 MW classified as prospects.

The amount paid for the above mentioned stake is €12 million (Enterprise Value) and additional success fees will be paid as the wind projects reach certain predefined milestones. Through this transaction EDPR acquires a quality pipeline in Italy and incorporates a team with a strong local expertise and track record on the Italian renewable sector, with an accumulated experience in the development and construction of 125 MW.

The Italian wind market has a high growth potential due to its current stage of development. With 4.9 GW of wind installed capacity in 2009 ( 1.1 GW vis-à-vis 2008), Italy is one of the most promising wind markets in Europe. The approved renewable obligation quota set by the government required in 2009 a 5.3% of the electricity supplied to be sourced from renewable technologies, escalating to 7.6% by 2012.

The entrance in the Italian market, will allow EDPR to be exposed to one of the most attractive countries in Europe given its strong regulatory framework, enabling the company to selectively diversify its growth options and expand its European footprint. EDPR expands its geographical diversification to 10 markets around the World (US, Spain, Portugal, France, Belgium, Poland, Romania, UK, Italy and Brazil) and increases its optionalities to deliver a sustainable long term profitable growth.

About EDP Renováveis
EDP Renováveis (Euronext: EDPR), a global leader in the renewable energy sector, designs, develops, manages and operates power plants that generate electricity using renewable energy sources. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is present in ten global markets. Energias de Portugal, S.A. ("EDP"), the majority shareholder of EDPR, is a vertically-integrated utility company, headquartered in Lisbon, Portugal. Through its various constituent businesses, EDP holds significant electricity and gas operations in Europe, Brazil and the United States. For more information, visit www.edprenovaveis.com.

EDP Renováveis signs long-term agreement to sell green certificates in Poland

Mon, 25 Jan 2010 00:00:00 GMT

EDP Renováveis, S.A. (“EDPR”), through its subsidiary Relax Wind Park I SP. Z.O.O., has just entered into a 15-year agreement with ENERGA – OBRÓT SA (“Energa”) to sell the green certificates generated from its 120 MW Margonin wind farm in Poland. This agreement enables EDPR to secure an important part of its revenue line in Poland and will provide a higher cash flow visibility for the long-term.

"This is EDP Renováveis's first wind farm in Poland and our first agreement with Energa and we applaud Energa for making a long-term commitment to support renewable energy projects in Poland," said Joao Costeira, Chief Operating Officer of EDP Renováveis Europe. "EDP Renováveis values long term agreements with our customers and we look forward to working with Energa, one of the largest suppliers of electricity in Poland."

"We are pleased that such renowned international investor has chosen our company as a solid and professional partner to establish a long-term cooperation. We estimate, that so called “green” property rights produced by this wind park shall amount to 250.000 MWh per year. ENERGA, as the biggest supplier of green energy, is going to develop its own ecological energy sources, but the company is open to the business cooperation with external contractors, for which the best example is the agreement with EDP Renováveis – underlines Arkadiusz Marat, President of the Board of Energa."

Located in Margonin commune, Poland, the project is already producing clean, renewable energy.

About EDP Renovaveis

EDP Renovaveis (Euronext: EDPR), a global leader in the renewable energy sector that designs, develops, manages and operates power plants that generate electricity using renewable energy sources. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years. Energias de Portugal, S.A. ("EDP"), the majority shareholder of EDPR, is a vertically-integrated utility company, headquartered in Lisbon, Portugal. Through its various constituent businesses, EDP holds significant electricity and gas operations in Europe, Brazil and the United States.

About ENERGA OBRÓT SA

ENERGA - OBRÓT SA, the most ecological seller of energy in Poland, sells 18 TWh of energy to 2.8 million houses and 300,000 companies in north and central Poland. ENERGA SA, the parent company of ENERGA -OBRÓT SA and the leading company of ENERGA Group, is one of the top four power engineering groups in Poland, headquartered in Gdañsk Poland. The main areas of activity of the ENERGA Group are distribution, sale and production of energy. For more information, visit: www.energa.pl.

EDP Renovaveis and SeaEnergy awarded 1.3GW Moray Firth site in UK Round 3

Fri, 08 Jan 2010 00:00:00 GMT

EDP Renovaveis (“EDPR”) and SeaEnergy PLC (“SeaEnergy”) are delighted to announce that they have been awarded acreage by The Crown Estate (Zone 1) to develop offshore wind farms in the Moray Firth, Scotland, with an approximate installed capacity of 1.3GW, as part of the UK Round 3 awards, enough to power 730,000 homes.

Under the terms of the development agreement, signed by EDPR, SeaEnergy Renewables Limited (“SERL”) (the 80% owned subsidiary of SeaEnergy) and The Crown Estate (“Agreement”), the companies have been awarded the exclusive rights to develop wind farm sites within the zone.

EDPR and SERL have formed Moray Offshore Renewables Limited (“MORL”) to develop the zone and the Agreement provides SERL with the right to retain a 25% working interest in MORL and all designated windfarm developments within the zone, whilst EDPR holds a 75% interest.

The awards were announced following The Crown Estate’s Round 3 Offshore Wind application process, which aims to deliver 25GW of wind power installed capacity. Forty applicants put forward applications for the nine zones which The Crown Estate opened to tender in June 2008.

Roger Bright CB, Chief Executive of The Crown Estate said: “I am delighted to announce that Moray Firth Zone 1 has been awarded the right to develop [insert zone name / number] in our Round 3 offshore wind programme. The 32GW of installed capacity proposed by the offshore wind energy developers for 2020 would supply a quarter of the UK’s electricity needs. This means the UK will have a secure and low carbon electricity supply. In addition, the UK economy will benefit as offshore wind is a growth industry that will create new businesses and jobs as well as attracting inward investment. The Crown Estate has the vested rights to develop the UK seabed for renewable energy and will continue to be a co-investor up to the point of consent. Our role now is work together with our development partners to help deliver the projects.”

The zone is located on the Smith Bank in the Moray Firth off the northeast coast of Scotland and covers an area of 522.15 km2. It is approximately 25 km southeast of the Caithness coast and has water depths between 30 and 60m. The strategic environmental assessment, commissioned by DECC, has concluded that there is scope for the construction and operation of an additional 25GW of offshore wind farms subject to certain restrictions on their location.

MORL will commence an extensive data gathering process within the zone shortly which will include bird and mammal studies, recording of metocean information and wind source analysis within the Moray Firth. This process will take at least 24 months, ahead of planning consents which should be submitted in early 2013.

António Mexia, Chairman of Edp Renováveis said:

“Offshore wind energy is one of the biggest sources of renewable energy on the planet and still largely unexplored. The UK Round 3 is the biggest tender for renewables ever and marks the definitive commitment of the UK to an energy source that is not only clean but also economically viable. It is, therefore, with great pleasure that EDP Renovaveis, as one on the most important wind energy companies in the world, will lead the development of the Moray Firth wind farm with our partners SeaEnergy. This new project fits perfectly into EDPR's portfolio adding geographical and technological diversification in one of the lowest risk and most business friendly nations in the world.”

Steve Remp, Chairman of SeaEnergy PLC said:

“We are absolutely delighted for SeaEnergy to have been awarded this zone in UK Round 3. This is a true testament to the reputation and expertise of our team who are very excited about working with our partners EDPR to develop this zone. The UK Round 3 awards mark a new dawn for Britain’s offshore wind potential, and coupled with our existing projects in Scotland and Taiwan we are very excited to be at the heart of it.”

Rob Hastings, Director of the marine estate, The Crown Estate said: “I am delighted that we have today announced the Development Partners for all the 9 Round 3 zones. As the landowner of the seabed, we have been working very closely with the statutory consultees and government to deliver this and The Crown Estate will continue to play an active role in energy generation – ref enabling action / co-investing. Marine renewable energy both from offshore wind and wave and tidal has the potential to deliver over third of UK energy needs by 2020.”

About SeaEnergy

SeaEnergy PLC is the only listed pure play offshore wind energy company in the UK. SeaEnergy Renewables Limited (“SERL”) is a subsidiary of the Company and is made up of the team which conceived, developed and delivered the world’s first deep water wind farm development - the Beatrice offshore wind farm (10MW) (the “Beatrice Project”) which is owned and operated by Talisman Energy. The Beatrice Project involved the installation of the two largest wind turbines (5MW each) ever deployed offshore, at water depths of 45 metres. This, combined with the SERL team’s expertise in delivering deep water offshore developments in the oil and gas industry, puts SeaEnergy in an unrivalled position at the vanguard of the emerging offshore renewables industry.

Prior to the UK Round 3 award SERL had secured a 25% interest in two unrelated joint ventures to develop offshore wind farms in the UK with a total capacity of over 1,800MW with partners Scottish & Southern Energy (Airtricity) and RWE AG (npower). This UK Round 3 award takes SERL’s net capacity in the UK to over 780MW. SERL has also signed a Heads of Terms Agreement to develop offshore wind farms in Taiwan with Taiwan Generations Corporation, the first project of which provides a minimum capacity net to SERL of 150MW giving a total worldwide capacity net to SERL of over 930 MW.

About The Crown Estate

The Crown Estate is an estate valued at more than £6 billion, including substantial blocks of urban property, over 120,000 hectares (300,000 acres) of agricultural land in England, Scotland and Wales, and around half the foreshore, together with the seabed out to the 12 nautical mile (nm) territorial limit.
Every year it pays its entire revenue surplus to the Treasury for the benefit of all UK taxpayers. In 2008/09 this amounted to over £226 million.
As owners, managers and guardians of one of the world’s most important and diverse urban, rural and marine property portfolios, The Crown Estate is underpinned by three core values of commercialism, integrity and stewardship.
The Crown Estate’s marine properties include more than half of the UK’s foreshore (17,000 km), 55 per cent of the beds of tidal rivers and estuaries and almost the entire seabed out to the 12 nautical mile territorial limit around the UK. It also includes the rights to the natural resources in the UK Continental Shelf, with the exception of oil, coal and gas. The Crown Estate issue leases for the development of windfarm sites within the 12 nm (nautical mile) territorial limit, whilst the Energy Act 2004 gives us rights to issue leases for development beyond the territorial limit within the Renewable Energy Zone (REZ) out to 200 nm.
The Crown Estate manages its assets on a commercial basis, guided by the principles of sustainable development and social responsibility. We are committed to sustainable and long-term management of these unique assets.
In 1999 The Crown Estate established its programme of Marine Stewardship to provide funding to support practical projects, relevant research, and other initiatives that improve the status and management of the marine estate.

“EDP University Challenge 10”, new incentive for Spanish university students carrying out projects on renewable energies

Mon, 23 Nov 2009 00:00:00 GMT

In its effort to create links between the labour market and universities, EDP Renováveis (EDPR) is once more promoting the “EDP University Challenge" competition for the second year in Spain.

“EDP University Challenge 10” is getting up and running with the slogan “EDP and renewable energies: a future side by side” and its objective of contributing to the development of academic excellence in undergraduates, postgraduates and PhD students (1st and 2nd cycle of the Bologna process). This initiative is aimed at university students, giving them the opportunity to apply their academic knowledge to carrying out new projects related to issues of real concern to the company.

University students interested in the initiative can register on the EDP Renováveis website (www.edprenovaveis.com), where they’ll find the rules and registration form.

The projects that are presented in this year’s University Challenge should focus on the areas of strategy, marketing and/or engineering in the field of renewable energies.

The work can be submitted in both semesters within the dates stipulated in the rules, and will be evaluated by an independent panel of university professors, EDP Renováveis professionals and consultants.

The winning team will receive a scholarship worth 10,000 Euros and, if applicable, the professor who supervised the work will be awarded a research grant worth 3,500 Euros. The members of the winning group will also have the opportunity to undertake a period of work experience in EDP Renováveis, provided they meet the requisites of the company's Human Resources department.

EDP Renewables North America opens Meadow Lake I wind farm in northwestern Indiana

Thu, 19 Nov 2009 00:00:00 GMT

Project's First Phase Will Generate Enough Clean Energy to Power 60,000 Average Indiana Homes Annually.

HOUSTON, TX (Thursday, Nov. 19, 2009) — Indiana's ranking as the fastest growing state in the nation for wind power growth over the past 24 months received another boost Thursday, as officials from EDP, EDP Renewables and Horizon Wind Energy, the U.S. subsidiary of EDP Renewables (EDPR), the world's fourth largest wind energy player, stood alongside state and local dignitaries and project landowners in Brookston, IN to commemorate the start of operations at Meadow Lake I Wind Farm.

Phase one of the project, which is located in White County, has an installed capacity of 200 MW — enough to power approximately 60,000 average Indiana homes with clean, renewable energy each year.

“We are delighted to begin converting the wind that blows across these expansive fields into renewable electricity,” said António Mexia, CEO of EDP and Chairman of EDP Renewables, adding that the Meadow Lake I Wind Farm began commercial operation last month. “In doing so, we will be playing a leading role helping reduce our reliance on fossil fuels, while improving our air quality and leaving the environment a better place for our children.”

One of only a handful of operating wind farms in the Hoosier State, Meadow Lake Icomprises 121 Vestas V82 1.65 MW turbines, each of which stand 262-feet tall. Electricity generated by the turbines’ three-bladed rotors, which span 269 feet and rotate at 14 revolutions per minute, is being sold into the regional wholesale market. The associated energy credits are being used by businesses and organizations to comply with state renewable energy mandates or to voluntarily reduce the environmental impact of their operations.

Gabriel Alonso, CEO of Horizon Wind Energy stated, “We are grateful to our partners for their support in making this project a reality,” he continued. “This includes Governor Mitch Daniels, who has actively promoted wind power development in Indiana, our 200 supportive landowners, and state residents in favor of generating at least 15 percent of their electricity from renewable energy sources by 2021.”

The project’s second phase has a proposed installed capacity of 99 MW — enough to power 30,000 average Indiana homes annually with clean energy. Horizon Wind Energy’s development team is working on additional phases that could potentially have an installed capacity of up to 700 additional MW in White and Benton Counties.

When combined, the first two phases of Meadow Lake Wind Farm, which rest on 37,000 acres, will prevent the annual emission of 960,000 tons of carbon dioxide, a contributor to climate change; nearly 3.3 million pounds of nitrogen oxide, which causes smog; and, 12.5 million pounds of sulfur dioxide, which causes acid rain. The annual environmental benefits are equivalent to taking 104,000 cars off of the road.

“Indiana is becoming a leader in wind energy production, bringing many economic benefits to our state, helping to create jobs and increasing the use of clean, renewable energy,” added State Sen. Brandt Hershman (R-Wheatfield).

As the nation continues to rebound from the devastating recession, Meadow Lake I Wind Farm has been a boon for local job seeker creating more than 450 temporary jobs during construction and 10 permanent, full-time jobs in operations. The project has also yielded significant economic benefits to the community in the form of payments to landowners, local spending and annual community investment.

According to June 2009 statistics from the American Wind Energy Association, Indiana is an emerging player in the U.S. wind energy market. The state, which ranks 16th in the nation by existing capacity, has 604.15 MW currently under construction.

In Indiana, Horizon has regional offices in Brookston in White County and Indianapolis and has 200 MW in operations, as well as over 99 MW in construction and over 1,300 MW in development throughout the State.

EDP Renewables Targets to Invest $4 Billion in American Wind Energy Generation Through 2012

Wed, 18 Nov 2009 00:00:00 GMT

Company executives credit U.S. commitment to a clean energy economy as key reason for private investment.

November, 18, 2009 WASHINGTON, DC --- Officials from EDP and EDP Renewables, the world’s second largest generator of wind energy in terms of market capitalization and also the third largest wind energy producer in the United States, announced today that they have targeted to devote approximately $4 billion to building new wind farms in the United States through 2012. Such investment will help create thousands of jobs to develop, build and operate the new projects, as well as to manufacture the equipment that will be installed in such projects. The target will build on the record amount of new capacity the company has already installed and has under construction in 2009, totaling 800 megawatts (MW) worth more than $1.5 billion of investment.

“EDP Renewables is serious about partnering with the United States for a number of reasons, but most of all because of the leadership we have seen from the federal government,” said Antonio Mexia, CEO of EDP and Chairman of EDP Renewables. “The Obama Administration and Congress signaled that they are serious about fostering production of renewable energy and that has assured us that America is the right place to invest.”

In the United States, EDP Renewables has a presence in 21 states and operates more than 2,500 MW of wind energy capacity. EDP Renewables’ United States domestic operations have grown from 60 employees to nearly 300 in just three years. The company’s rapid growth in 2009 is in large part due to the successful implementation by the Department of Treasury and the Department of Energy’s 1603 Program that provided a regulatory framework to accelerate construction of new renewable energy capacity.

“Horizon Wind’s participation in the Recovery Act’s 1603 program is an example of a true federal partnership with the private sector,” said Treasury Secretary Tim Geithner. “This innovative program provides companies with the resources needed to increase investments in renewable energy production, allowing the nation to establish a clean, domestic energy industry that creates jobs and revitalizes our economy.”

The 1603 Program gives wind and other renewable energy producers the chance to offset the costs of new projects with a 30 percent grant. Companies that take advantage of the program agree to give up certain tax credits that they would have been eligible for in the future. The direct payment spurred development by companies that did not have a federal tax liability and encouraged immediate re-investment of renewable energy profits.

António Mexia continued by saying, “There is no doubt that the right program was put into place at the right time. We are bringing new construction and operation permanent jobs to towns and cities of all sizes and seeing the economic activity that comes with those jobs. We are installing equipment manufactured in the United States and we are also giving people new, clean energy choices.”

The announcement comes a day before Horizon Wind Energy, an EDP Renewables company, plans to dedicate the first phase of Meadow Lake Wind Farm in Indiana, a 199.65 MW project worth more than $400 million. The second phase started construction in early September and it was accelerated due to 1603 Plan funding the company received from a previous project.

Mexia added, “EDP is committed to reinvesting all funding received from the 1603 Program into new renewable energy projects and jobs in the United States. However, more needs to be done; the next step is to enact an aggressive Renewable Electricity Standard that will ensure more companies like EDP can make longer term investments in this sector.”

A Renewable Electricity Standard (RES) would require a specific fraction of the nation’s electricity be derived from renewable energy sources. A solid RES would result in competition, efficiency and innovation that would deliver renewable energy at the lowest possible cost, allowing it to compete with other sources of energy.

“An RES is essential to creating a framework that will create sustainable growth in the wind energy sector throughout the country,” said Mexia. “With a strong RES in place, the United States can continue to lead the world's new energy economy, keep and create jobs and investment here, develop technology leadership in a business with a solid future and demonstrate a tangible commitment to solving global climate change.”

About Horizon Wind Energy

With over 20 wind farms across the United States, Horizon Wind Energy has developed more than 3,400 MW and operates over 2,500 MW of wind farms.

Horizon is owned by EDP Renováveis S.A. (“EDPR”), a global leader in the renewable energy sector that designs, develops, manages and operates power plants that generate electricity using renewable energy sources. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years. EDPR’s installed capacity increased four-fold between 2005 and 2007, becoming the fourth largest wind energy producer in the world. EDPR is listed on the Euronext Lisbon Stock Exchange.

EDP Renováveis reports a 19% increase in its net profit in the first nine months of 2009

Wed, 28 Oct 2009 00:00:00 GMT

The company increased its wind power capacity by 1,423 MW, a 34% increase compared to September 2008.

Madrid, October 28th, 2009 - EDP Renováveis (EDPR), the world’s fourth largest wind power company and a subsidiary of the Portuguese Energy Group, Grupo EDP-Energias de Portugal, today announced its financial and operating results for the first nine months of 2009, showing a net profit of 70 million euros - a 19% increase on last year’s results for the same period. It published an EBITDA of 369 million euros, meaning a rise of 20%. The gross margin obtained between January and September was 496 million euros. In line with its strategic plan, the company is in a position to reach its objective of delivering a cumulative wind power capacity of between 1.2 and 1.3 GW.

Between January and September of this year, EDPR made investments valued at 1,487 million euros, 543 million of which were allocated to Spain, 689 million to the United States and 251 million to the rest of the European countries in which it is present. In the month of September, the company received 48 million dollars in Cash Grants in the USA, and concluded an institutional agreement raising another 102 million dollars. The sum of both, which is 150 million dollars, has already been allocated to constructing new wind power projects in the United States.

The company has also expanded into Eastern Europe – It has put a 120 MW wind farm in Poland into operation and is constructing another with a 159 MW capacity in Romania, which is expected to be finished next year.

On September 30th 2009, EDPR’s total wind power capacity in the eight countries in which it operates amounted to 5,577 MW. The company is constructing 1,293 MW, mainly in the United States (427 MW), and in Spain (417 MW). The rest applies to Romania (159 MW), Portugal (128 MW), Poland (120 MW) and France and Belgium (43 MW). EDPR’s project portfolio amounts to 28,587 MW.

In terms of electricity production, EDP Renováveis experienced a growth of 36% in the first nine months of 2009. This increase was particularly significant in the United States, which was 57%. In the first six months of the year, the company generated 7,295 GWh. 86% of the electricity production sold between January and September was done so entirely without any market-risk exposure.

The managing director, Ana Maria Fernandes, has emphasised EDPR's steady growth in its installed wind power capacity over the last 12 months: 1,423 MW, of which 56% (798 MW) were constructed in the United States, and 44% (611 MW) in Europe. Ana Maria Fernandes also highlighted the fact that between January and September 2009, EDPR has reached higher than average load factors, and has one of the highest Ebitda margins in the sector. Cost control, and the favourable position the company holds to deal with a future profitable growth with a solid balance, were also factors pointed out by the EDPR managing director.

About EDP Renováveis

EDP Renováveis is the renewable energy company from the Portuguese Energy Group, Grupo EDP-Energias de Portugal. It operates in eight countries, including the United States, Brazil, and six European countries. With 5,577 megawatts (MW) of installed capacity at the end of September 2009, EDP Renováveis is the world's fourth largest wind power operator, third in Europe and Spain, and fourth in the United States.

EDP Renováveis is also one of the three largest companies in the world in terms of growth and installed capacity. In its expansion plan it aims to increase its wind power capacity to 10.5 GW in 2012.

In addition to the 5,577 MW that it already has operating in eight countries, EDP Renováveis has 1,293 MW under construction, 867 MW of which are in European farms and 427 MW in the United States, as well as a project portfolio for 28.6 GW.

EDP Renováveis is the third largest operator in the sector in Europe, with a wind power capacity of 3,033 megawatts spread out over wind farms in Spain (2,169 MW), Portugal (596 MW), and the rest of Europe (268 MW). As well as operating on the Iberian Peninsula, the company is also present in France, Belgium, Poland and Romania.

EDP Renováveis is also the fourth largest operator in North America. On September 30th 2009, the company had a total of 2,530 MW in operation, to which we may add a project portfolio in the region of 18,062 MW. EDP Renováveis is present in fifteen states in the USA.

The EDP Group is Portugal’s largest industrial group and is one of the largest in the European energy market. It operates in the areas of production, marketing and distribution of electricity and gas in Portugal and Spain. In addition to its prominent position on the Iberian Peninsula, the EDP group also has an important presence in the Brazilian energy sector.

US Treasury approves EDPR’s first cash grant in an amount of $48 Million

Mon, 31 Aug 2009 23:00:00 GMT

The United States Department of Treasury (“Treasury”) informed EDP Renováveis, S.A. (“EDPR”) that it has approved today the Wheat Field wind farm cash grant application for payment in the amount of $48 million, which should be received within 5 days.

The Wheat Field wind farm, located in the state of Oregon in the US, was commissioned in the 1Q2009 with a 97 MW installed capacity and was EDPR’s first eligible project to receive the cash grant from the Treasury in lieu of tax credits, pursuant to the American Recovery and Reinvestment Act of 2009.

The first round of cash grant awards approved today confirms the success of the new grant program for the renewables (alternatively to the previous tax credits mechanism) and constitutes a major positive development in the US wind market.

EDP Renovaveis establishes a new type of institutional partnership structure for 101 MW in the US

Mon, 31 Aug 2009 23:00:00 GMT

Horizon Wind Energy LLC (“Horizon”), a fully-owned subsidiary of EDP Renováveis, S.A. (“EDPR”) in the US, has executed an agreement to secure $101.9 million of institutional equity financing from JPM Capital Corporation in exchange for a partial interest in its 100.5 MW Rail Splitter wind farm project installed in June 2009 in Illinois.

The institutional equity investment will provide the investor with access to the accelerated asset depreciation (MACRS) benefits and to the cash grant, which the Rail Splitter project will apply for pursuant to the American Recovery and Reinvestment Act of 2009.

The Rail Splitter transaction will represent EDP Renováveis's first institutional equity transaction that incorporates the cash grant in lieu of production tax credits and through it EDPR will improve the project’s economics and the company’s fiscal efficiency.

EDP Renováveis is implementing three wind farms in the United States

Fri, 31 Jul 2009 23:00:00 GMT

The new wind power corresponds to wind parks Meridian Way, with 201 MW, located in northern Kansas; Rattlesnake with 102.9 MW in Oregon and the first phase of Pioneer Prairie, with 201.3 MW on the Iowa-Minnesota border. Meridian Way and Pioneer Prairie alone produce enough clean energy to supply electricity to 60,000 homes. Rattlesnake, in turn, with its 102.9 MW generates enough electricity to cover the needs of 30,000 American homes.Rattlesnake is the second wind farm that belongs to EDP Renováveis developed and set up in the State of Oregon.

The company also owns Vale Eikhorn wind farm in the same state, which began operating in December 2007.The chairman and managing director of Horizon Wind Energy, Antonio Martins da Costa, has highlighted the beginning of the these farms’ commercial operations. They also entail the company’s arrival in Kansas and Iowa. “At Horizon -Martins da Costa has stated -we are proud to contribute to the development of clean energies in regions with such a great potential for wind resources.

We are also satisfied about beginning to sell electricity in our second wind farm in Oregon. Now we have more than 200 MW in operation in that state, and we continue to seek new opportunities to develop several hundred additional megawatts.”The top executive of Horizon Wind Energy has thanked the following companies: The Empire District Electric Company, Westar Energy and Pacific Gas and Electric Company (PG&E), as well as the proprietors of the land and communities of Kansas, Oregon and Iowa, their contribution and enthusiasm for producing clean energies.

The State of Kansas ranks number 12 in the United States regarding wind-generated electricity, with an installed capacity at the end of 2008 of close to 1000 MW, enough to power 300,000 homes with clean energy. There are also requests to interconnect more than 1700 MW.With regard to Iowa, the American Wind Energy Association (AWEA) ranked this state third in the United States in the third quarter of 2008. Oregon, according to AWEA’s data from the third quarter, ranks seventh in the U.S. wind energy ranking, with more than 900 MW installed and a potential of thousands of MW.ABOUT EDP RENOVÁVEISEDP Renováveis is the renewable energy company belonging to Grupo EDP-Energías de Portugal.

It is present in six European countries, the United States and Brazil. At the close of the third quarter of 2008, it recorded 4,155 gross MW of installed power. This makes it the fourth largest wind energy operator in the world. It had 1,612 MW under construction and a project portfolio of 29,227 MW. Last year, Grupo EDP acquired American company Horizon Wind Energy, whose wind turbines amounted to 1,733 gross MW of installed wind power. Headquartered in Houston (Texas), Horizon is the third largest wind power company in North America, and it is present in New York, Oregon, Illinois, Oklahoma, Texas, Kansas, Iowa and Minnesota. The company has a project portfolio under development with more than 18,548 MW in twenty states.At the close of the third quarter of 2008, EDP Renováveis had 2,422 MW of wind energy operating, distributed among its wind parks in Spain (1,761 MW), Portugal (517 MW) and (144 MW), the rest of Europe, which ranks the company as the third largest wind power operator in Europe.

In addition to the Iberian Peninsula, EDP Renováveis is present in France, Belgium, Poland and Romania.The company went public in June following an expansion, 22.5% of its capital, which was distributed among institutional investors and minority investors from several countries, and among Grupo EDP employees. Several savings banks and Spanish banks attended the institutional sale.EDP Renováveis has wind farms in eight autonomous communities in Spain: Asturias, Galicia, Aragón, Castilla y León, Castilla-La Mancha, Andalusia, the Canary Islands and Catalonia.EDP Renováveis expects to almost triple its installed wind power capacity between 2007 and 2012, reaching 10,500 MW.

EDP Renováveis earns 66 million Euros in the first half of 2009, a 32% increase

Tue, 28 Jul 2009 23:00:00 GMT

With 5,301MW of installed capacity, EDPR remains the fourth largest wind power company in the world

EDP Renováveis (EDPR), the fourth largest wind power company in the world and subsidiary of the Grupo EDP-Energías in Portugal, obtained a net profit of 66 million Euros in the first half of 2009 and increased its EBTIDA by 19% reaching 271 million Euros. EDPR is quoted on the Euronext stock market.

By June, EDP Renováveis had achieved 5,301 megawatts (MW) of installed wind energy capacity. This keeps EDPR in fourth position in the world ranking. The company, which has offices in six European countries, in addition to the United States and Brazil, has 1,261 MW in construction and a project portfolio of 28,304 MW.

Thus, EDP Renováveis now manages a portfolio of over 5.3 GW as of the first half of 2009.

In terms of installed capacity, EDP Renováveis added 1,455 MW over the last 12 months, with an increase of 38% in relation to the first semester of 2008. The production of electricity delivered reached 5,253 GWh, 33% higher than the same period in 2008.

In addition to the 5,301 MW of wind energy already in operation, EDP Renováveis has 1,261 MW in construction, of which 760 MW are located in Europe and 501 MW are located in the United States. The company plans to increase its wind capacity to 10,500 MW by 2012.

The leading world market for EDPR is the United States, which has an installed capacity of 2,358 MW. In addition, it has 501 MW under construction and plans to add up to 17,785 MW. Spain is the second leading country with 2,109 MW of installed capacity, 477 MW under construction and 4,999 MW in development. Currently, Brazil has 14 MW of installed capacity, and ranks third in terms of potential power capacity given EDPR plans to develop up to 1,544 MW.

EDP Renováveis achieved one of the highest EBITDA margins in the wind energy industry, a total of 76%. This was particularly due to the progress made in the United States where the EBITDA increased by 56%.

The company’s balance sheet is very solid. Its net debt represents only 20% (1,900 million Euros) of the company’s value which shows its reduced financial risk.

EDP Renováveis contracts Vestas for 76 Wind Generators for Two Romanian Wind Farms

Sat, 30 May 2009 23:00:00 GMT

EDP Renováveis (EDPR), renewable energy company pertaining to the Portuguese EDP-Energías Group, has contracted Vestas for a total of 76 wind generators for wind energy projects in Romania. The contract covers the supply and installation of V90-3.0 MW turbines, the VestasOnline Business SCADA solution, and a five-year agreement for the supply of services. The wind generators will be installed from late 2009 and throughout 2010. This contract allows EDPR to progress in the execution of its Romanian network, in line with the decision it made to enter this market in October 2008. These projects cover the annual electric power needs for approximately 97,000 homes and, from an environmental viewpoint, will prevent the emission of more than 392,100 tons of CO2 per year.

ABOUT EDP RENOVÁVEIS

EDP Renováveis is the renewable energy company belonging to the Group EDP-Energias de Portugal. It is present in six European countries, United States and Brazil. With a wind capacity of 5,052 megawatts (MW) from its wind farms at the end of 2008, EDP Renováveis is the fourth largest wind energy operator in the world and third in Europe, Spain and the United States. EDP Renováveis increased its electricity production 78% in 2008, up to 7,807 GWh, in concordance with the strong increase of installed power during the financial year, i.e. 1,413 MW. EDP Renováveis expects to almost triple its wind capacity between 2007 and 2012, until it reaches 10,500 MW. In addition, to the 5,052 MW of wind power already in operation in eight countries, EDP Renováveis has 769 MW under construction, 569 MW of which are found in European wind farms and 199 MW in the United States, plus a project portfolio of 28 GW. EDP Renováveis is the third sector operator in Europe, where it has a wind capacity of 2,894 megawatts distributed among its wind farms in Spain (2,109 MW), Portugal (553 MW) and the rest of Europe (232 MW). In addition to the Iberian Peninsula, the EDP Group’s renewable energy company is present in France, Belgium, Poland and Romania. EDP Renováveis is, also, the third operator in North America. At the end of 2008, the company had a total of 2,158 MW in operation, in addition a project portfolio of about 18,518 MW. EDP Renováveis is present in eight states. The company withdrew from the stock market 22.5% of the company capital in June, prior to expansion, which it placed among institutional investors and retail investors in several countries, as well as among workers of the EDP Group. Several Spanish savings and loan institutions and banks also responded to the institutional sale.

EDP Renováveis Secures 532 MW in Brazilian Wind Energy Projects

Wed, 18 Mar 2009 00:00:00 GMT

EDP Renováveis, renewable energy company member of the Portuguese Group EDP-Energías, has acquired through is affiliate EDP Renováveis Brasil several wind energy projects that amount to a total power of 532 MW. The operation was made through the purchase of 100% of the shares of the Brazilian company Elebrás Proyectos, subsidiary of the of the Germany company InnoVent. The purchase of Elebrás, for some 2 million euros, is in line with the strategy of the EDP Group, fourth ranked wind energy operator in the world, which is determined to also be a notable renewable energy company in Brazil, especially in the area of wind energy. EDP Renováveis initiated its expansion in the Brazilian wind market last year when it purchased Cenaeel, with 14 MW of operating power, in the state of Santa Catalina. Now it is taking another step toward the consolidation of its strategy. Elebrás has a project portfolio totalling 532 MW, 70 MW of which belong to the Proinfa Project. The remaining 452 MW are in different stages of development. The projects are located in Rio Grande do Sul, one of the most favourable regions for the development of wind energy. With this operation, the Group expands its presence in the Brazilian market, increasing 532 MW to its portfolio, which added to the 14 MW from Cenaeel (SC), and to the projects under study (70 MW in Santa Catalina and 216 MW in Espiritu Santo), a total of 832 MW can be summed up for wind energy generation projects. In addition, EDP Renováveis Brasil continues, to maintain alliances with Cemig and Petrobras for the joint development of wind energy studies. The term of the operation is pending administrative y regulatory approvals. ABOUT EDP RENOVÁVEIS EDP Renováveis is the renewable energy company belonging to the Group EDP-Energias de Portugal. It is present in six European countries, United States and Basil. With a wind capacity of 5,052 megawatts (MW) from its wind farms at the end of 2008, EDP Renováveis is the fourth largest wind energy operator in the world and third in Europe, Spain and the United States. EDP Renováveis increased its electricity production 78% in 2008, up to 7,804 GWh, in concordance with the strong increase of installed power during the financial year, i.e. 1,413 MW. EDP Renováveis expects to almost triple its wind capacity between 2007 and 2012, until it reaches 10,500 MW. In addition, to the 5,052 MW of wind power already in operation in eight countries, EDP Renováveis has 769 MW under construction, 569 MW of which are found in European wind farms and 199 MW in the United States, plus a project portfolio of 29,000 MW. In 2007, the EDP Group purchased the North American company Horizon Wind Energy, whose wind generators totalled 1,733 MW of installed power. With headquarters in Houston (Texas), Horizon is the third North American wind energy company present in the states of New York, Oregon, Illinois, Oklahoma, Texas, Kansas, Iowa and Minnesota. The company has a project development portfolio of around 18,000 MW spread across twenty states. EDP Renováveis is the third sector operator in Europe, where it has a wind capacity of 2,894 megawatts distributed among its wind farms in Spain (2,109 MW), Portugal (553 MW) and the rest of Europe (232 MW). In addition to the Iberian Peninsula, the EDP Group’s renewable energy company is present in France, Belgium, Poland and Romania. The company withdrew from the stock market 22.5% of the company capital in June, prior to expansion, which it placed among institutional investors and retail investors in several countries, as well as among workers of the EDP Group. Several Spanish savings and loan institutions and banks also responded to the institutional sale. EDP Renováveis wind generators are spread throughout eight Spanish Autonomous Communities: Asturias, Galicia, Aragón, Castilla y León, Castilla-La Mancha, Andalucía, the Canary Islands and Catalonia.

EDP Renewable obtained a net profit of 104 millions of euros and increased its Ebitda a 91% in 2008

Mon, 02 Mar 2009 00:00:00 GMT

euro net profit in 2007. Furthermore, the Company managed to increase its Ebitda 91% to 438 million euro (EDPR is listed in the stock exchange Euronext). At the closing of 2008, EDP Renewables had 5.052 MW of wind capacity installed in Europe and the United States. EDPR currently has a presence in six European countries, the United States, and Brazil. The U.S. platform represents 43% of its business, followed by Spain with 42%, 11% in Portugal, and 4% in the other European countries including France, Romania and Poland. The Company accomplished its targets for 2008 after its OPV (Public Operation of Sell), with the goal of increasing gross capacity by 1.400 MW. EDP Renewables exceeded this mark with 1.413 MW, causing an increase of 40% since 2007. As a result, the EDPR managed a portfolio of over 5 GW by the end of 2008. In terms of installed capacity, EDPR concluded 2008 with 1.4 GW more than the previous year. In relation to 2006, the company multiplied its wind capacity by 2.3, going from 2.127 to 5.052 MWs. Thus, the electric production delivered last year rose to a 7.807 GWh, increasing by 78% since 2007, when it was 2.454 GWh. EDP Renewables achieved one of the highest margins of Ebtida within the industry, 75% (72% in 2007). The balance sheet shows outstanding strength, with a net debt of only 16% of the company’s value (1.100 million euro). Among the reasons behind this success, it is relevant to mention the low financial risk, as well as the attractive selling price for wind energy: an average 98 euro in Europe and $86 dollars in the United States. At the same time, the company has proven a positive attitude towards creating institutional deals, notwithstanding the adverse conditions of the capital markets, as demonstrated by the tax equity agreement signed in the United States in December for a value of $265 million . The United States platform is responsible for 2.158 MW of the 5.052 MW of global installed capacity in 2008.. In addition, at the end of 2008, the U.S. platform had 199 MW of wind power in construction, and a pipeline, including prospects of 18.518 MW. By the close of December, 2008, Spain had 2.109 MW of installed capacity, 477 MW in development, and a pipeline of 5.343 MW. In Portugal, EDPR owns 553 MW of installed capacity, and is currently building 42 MW, with a pipeline, including prospects, of 771 MW. Finally, in France, Belgium, Poland and Romania, the installed capacity at the end of the 2008 was 232 MW, with 51 MW in construction and a pipeline and prospects of 3.385 MW. Romania is the most recent country where EDP Renewables entered with the acquisition of 736 MW of pipeline and prospects in October, 2008, following the company’s global strategy of selective expansion of suitable geographic areas that provide a strong wind resource and competitive energy pricing. At the global level the company shows a total pipeline with prospects of 28.234 MW.

EDP University Challenge 2009

Thu, 29 Jan 2009 00:00:00 GMT

The EDP University Challenge 2009 project seeks to contribute to developing excellence in Spanish university graduates’ supplementary academic training. The project’s objective is to reward academic and scientific areas, thus promoting greater interrelations between the university and the corporate world.In this first edition in Spain, and the third in Portugal, the "EDP University Challenge" study theme is “EDP and renewable energies: a joint future”.How the EDP University Challenge 09 works"EDP University Challenge 2009" is an annual contest that will take place during both semesters of the 2009 academic year. Each semester, there will be a period for working on the respective project. These periods will have a duration of about 3 months after the deadline for submitting applications.The first period for working on projects corresponds to the first semester of the 2009 academic year. The deadline for submitting applications for this first period will be November 28, 2008. The projects will be due on February 10, 2009.The second period for working on projects corresponds to the second semester of the 2009 academic year. The deadline for submitting the applications for this second period will be March 9, 2009. The projects must be submitted before June 9, 2009.The winning students will receive a 10,000 Euro scholarship, and the professor accompanying the group will receive a 3,500 Euro research grant.All winning group members will also have the possibility of doing a 3 month internship with Grupo EDP in Spain, Portugal or Brazil.

EDP Renováveis will develop new wind farms in Galicia with a 125.7 MW capacity

Mon, 29 Dec 2008 00:00:00 GMT

The new projects will be added to the six wind farms that EDP Renováveis is already operating in the Galician autonomous community. These wind farms, with an installed power of 185.3 MW are in the provinces of A Coruña and Lugo. The company also has 27.6 MW under construction and 68.7 MW in the final processing phase.EDP Renováveis attended the wind energy tender called by the Galician regional government through its affiliate, Neo Energía. This invitation to tender, to which more than 170 projects were presented, is one of the most important ones held in Europe this year to develop wind energy.With this award, the company reinforces its commitment with the development of Galicia, where it has been present for more than ten years. EDP Renováveis has the necessary financial, technological and professional capacity to build and begin the new projects awarded, thus contributing to the benefit of owners, townships and Galician society in general.This award in Galicia means a reinforcement of EDP Renováveis’s position as the third largest wind power company in Spain. There, it is present in eight autonomous communities and it has accumulated an installed power of 1,761 MW.

ABOUT EDP RENOVÁVEIS

EDP Renováveis is the renewable energy company that belongs to Grupo EDP-Energías, Portugal. It is present in six European countries, the United States and Brazil. At the close of the third quarter of 2008, it recorded 4,155 gross MW of installed power. This makes it the fourth largest wind energy operator in the world. It had 1,612 MW under construction and a project portfolio of 29,227 MW.Last year, Grupo EDP acquired American company Horizon Wind Energy, whose wind turbines amounted to 1,733 gross MW of installed wind power at the close of the third quarter of 2008. Headquartered in Houston (Texas), Horizon is the third largest wind power company in North America, and it is present in New York, Oregon, Illinois, Oklahoma, Texas, Kansas, Iowa and Minnesota. The company has a project portfolio under development with more than 18,548 MW in twenty states.At the close of the third quarter of 2008, EDP Renováveis had 2,422 MW of wind energy operating, distributed among its wind parks in Spain (1,761 MW), Portugal (517 MW) and (144 MW), the rest of Europe, which ranks the company as the third largest wind power operator in Europe. In addition to the Iberian Peninsula, EDP Renováveis is present in France, Belgium, Poland and Romania. The company went public in June following an expansion, 22.5% of its capital, which was distributed among institutional investors and minority investors from several countries, and among Grupo EDP employees. Several savings banks and Spanish banks attended the institutional sale.EDP Renováveis has wind farms in Spain in eight autonomous communities: Asturias, Galicia, Aragón, Castilla y León, Castilla-La Mancha, Andalusia, the Canary Islands and Catalonia. EDP Renováveis anticipates almost tripling its installed wind power capacity between 2007 and 2012, attaining 10,500 MW.

EDP Renováveis inaugurates 12th wind farm in the United States

Wed, 24 Sep 2008 23:00:00 GMT

EDP Renováveis, through its affiliate Horizon Wind Energy, is to begin generating electricity tomorrow at its Pioneer Prairie wind farm, the group’s first facility in the U.S state of Iowa. The wind farm will have an installed capacity of 301 MW, of which 200 will be operational by the end of the year. When it is completed in 2009, the 182 Vestas turbines installed will produce the equivalent of the electricity consumed by a universe of 90,000 families in Iowa. The energy will be sold on the market. The entry into operation of Horizon’s 12th wind farm in the United States coincides with the official opening of its office in Minneapolis, Minnesota. The two investments demonstrate the group’s interest in this central region of the United States.The Upper Midwest (Minnesota, Iowa, Minneapolis, North Dakota and South Dakota) holds four of the 10 states with the greatest potential for the production of wind energy, according to estimates of the American Wind Industry Association (AWEA). The presence of the group in this region began in 2007 with the installation of the Prairie Star wind farm (100 MW) in Minnesota, which was reinforced by Pioneer Prairie in Iowa. Of the more than 11,000 MW that Horizon has now in the pipeline, about 1,500 is located in the Upper Midwest.The United States is already the world’s largest producer of wind energy, having surpassed Germany, according to the industry association, AWEA. At the end of this semester, installed capacity in the United States reached 20,152 MW.

1H2008 Results - Webcast 30th July 10:00 am GMT

Sun, 27 Jul 2008 23:00:00 GMT

To access EDP Renováveis' 1H2008 results webcast please click on the link below.

http://wcc.webeventservices.com/view/wl/r.htm?e=115255&s=1&k=3846306B9E3EB1E71F040B287DEDBA5A&cb=genesys

To attend the conference call please dial 44 (0)20 7162 0125.

Replay dial-in number: 44 20 7031 4064 Access code: 804771

1st Semester Results – July 30, 2008 10:00 GMT

Sun, 27 Jul 2008 23:00:00 GMT

To access the webcast of the results for the 1st semester of EDP Renováveis please click on the link below.

http://wcc.webeventservices.com/view/wl/r.htm?e=115255&s=1&k=3846306B9E3EB1E71F040B287DEDBA5A&cb=genesys

To access the conference call please dial 44 (0)20 7162 0125

To hear the conference call please dial 44 (0)20 7031 4064 Access code: 804771

Horizon Wind Energy Signs Power Purchase Agreement with PG

Mon, 30 Jun 2008 23:00:00 GMT

Horizon Wind Energy, LLC, a leading wind project developer, owner and operator, owned by EDP Renováveis, has just entered into a long-term agreement with Pacific Gas and Electric Company (PG&E) to sell renewable wind energy. Horizon Wind's Rattlesnake Road Wind Power Project will have an installed capacity of 102.9 megawatts (MW) of renewable wind energy.

"We applaud PG&E for taking the initiative to supply their customers with pollution-free, wind energy," said Antonio Martins da Costa, Chairman and Chief Executive Officer of Horizon Wind Energy. "Horizon values long term agreements with our customers and we look forward to working with PG&E, one of the largest natural gas and electric utilities in the United States, for years to come."

Located in Gilliam County, Oregon, Rattlesnake Road Wind Farm will deliver 240 gigawatt hours (GWh) of clean electricity annually. The project is currently under construction and is expected to start producing clean, renewable energy late 2008.

"Clean wind power is an integral part of our diverse renewable energy portfolio, which includes hydroelectric, geothermal, solar, wave and biomass resources," said Fong Wan, Vice President of Energy Procurement for PG&E. "Renewable resources continue to play a critical role in our commitment to provide our customers with reliable, clean, environmentally preferred energy."

Largest EDP Renováveis wind farm inaugurated in the United States

Thu, 26 Jun 2008 23:00:00 GMT

EDP Renováveis, through its affiliate Horizon Wind Energy, is today inaugurating its largest wind farm in the United States. Located in the U.S. state of Texas, the Lone Star wind farm has 400 MW of installed capacity, producing the equivalent of the energy consumed by 120,000 families. The wind farm has been fully operational since last May. The electricity produced by the wind farm is sold to two vendors: J Aron, a trading company of Goldman Sachs, and Direct Energy, one of the largest electricity distributors in Texas. The Texas wind farm is one of 11 that the company currently has in operation in the United States, with a total of 1,556 MW shared among six states. "For Horizon, Lone Star represents a very significant step in the consolidation of a leadership position in the American market," notes António Martins da Costa, president of Horizon. Because of the scale involved, the Lone Star wind farm is a good example of Horizon’s capacity for execution.” In addition to Lone Star, Horizon has other investments under study in Texas, comprising part of the pipeline of more than 11,000 MW under development throughout the territory of the United States. Texas is in the front line of the expansion of wind energy in the United States. It is already the state with the largest installed capacity (nearly 5,300 MW), it maintains a political-regulatory climate that is favorable to the development of industry, and above all, it has a high wind potential. The American market represents 42% of the installed capacity of EDP Renováveis, with the Iberian Peninsula as the second largest market in the Group’s portfolio. In 2007, and for the third straight year, the United States was the country with the world’s largest growth of wind energy. Investment in the sector came to nine million dollars, according to the U.S. Department of Energy.

EDP Renováveis guarantees construction of a third wind farm in New York state

Thu, 19 Jun 2008 23:00:00 GMT

EDP Renováveis, through its U.S. affiliate Horizon Wind Energy, guaranteed approval of a new wind farm in New York state. A license, granted this week by the New York State Public Service Commission, authorizes the installation of 229 MW. With this authorization of the Marble River project, which also involves connection to the local electricity grid, Horizon is enabled to go forward with the construction as early as this year, with a view to commencing operations in 2009. Marble River will thus be Horizon’s third wind farm in New York state. The company, in partnership with Iberdrola, controls Maple Ridge, the largest wind farm of the region, with an installed capacity of 322 MW. Horizon also holds Madison Wind Farm, with 12 MW. “New York is a very important state for Horizon. It has wind resources and attractive energy prices,” says António Martins da Costa, executive president of Horizon Wind Energy. The energy produced by Marble River will be sold on the wholesale markets through bilateral contracts or on the Spot Market managed by the New York Independent System Operator (NYISO). Horizon is thus proceeding with the objectives set forth in its plan for expansion in the United States. The company has wind farms in operation in six states, and is set to develop projects in 11 more states.

3rd phase of the EDP Renováveis campaign

Mon, 26 May 2008 23:00:00 GMT

Last days of EDP Renováveis PSOThe countdown for the Public Subscription Offering of EDP Renováveis is starting.

The 2nd period of the PSO goes until May 30, 2008. The investors who transmitted their subscription orders in this segment during the 1st period of the PSO will benefit from an attribution coefficient greater than 100%, compared to those who submit their subscription

2nd phase of the EDP Renováveis campaign

Sun, 18 May 2008 23:00:00 GMT

Nature has an appointment with People The time has come when the Portuguese are able to subscribe shares of EDP Renováveis. And because this phase depends upon the action of people, the PSO campaign takes on a humanized tone, though without being disassociated from nature as the principal matrix. Amounting to a “rewind” version of the preceding phase – in which the birth of new company EDP Renováveis was made known – the “Power” campaign transforms the journey by 360 degrees, in the direction of a nature-city. Now that people know what EDP Renováveis can do for the environment, it is nature’s turn to have an encounter with man - and this encounter is materialized through the subscription of shares of EDP Renováveis. Through this operation, all the Portuguese will be able to be a little bit like “owners” of sources of energy that are 100% clean and renewable, namely, the wind, the sun and the sea. The original song “Spinning Around,” by Paulo Gomo is continued, and the message is, in this phase, more direct and incisive.The animals that previously were featured in the campaign’s images on billboards, in ATM’s and on the internet, now give way to men and women of different ages and lifestyles, engaging in various hobbies and sports (from a middle-aged executive who goes walking on the plains of the Alentejo on weekends to the young man engaging in mountain biking on the cliffs of Cabo da Roca, and the girl who kite-surfs out on the coast of Cabo Verde). These are people and scenarios that reflect the variety of the potential targets for this campaign.

The circle of life

Tue, 29 Apr 2008 23:00:00 GMT

The Partners agency, 100% portuguese, assumed the life cycle as the starting point to create the campaign, materialised it in the 360 degrees concept. A completely pioneering film technology in advertising was used for the film production, in accordance with the renewable energy business, which is the energy of the future, the energy of the 21st century.

The music “Spinning Around”, specifically created for the advertising campaign, was composed and interpreted by Paulo Gomo. The photography is as well translating in an innovative way the diversity of flora and fauna, giving room for imagination and reinforcing the positioning of the new brand EDP Renováveis.

EDPR ad campaign.

A multimedia campaign

Tue, 29 Apr 2008 23:00:00 GMT

Communicating the creation of a new company means, above all, creating a new brand. Television, cinema, radio, internet, outdoor and ATM machines were the media selected to introduce EDP Renováveis’ institutional campaign, which is titled "The life cycle”.

Cick here to view EDP R ad campaign.

A new company is born, powered by nature

Tue, 29 Apr 2008 23:00:00 GMT

A new company is born, with new values, with a new positioning, with a personal communication style. EDP Renováveis introduces itself today, with the launch of its internet site.

EDP acquires wind assets from eole 76 group in France

Mon, 07 Apr 2008 23:00:00 GMT

Out of these projects under development, 8 MW are under construction, 12.5 MW already have all the necessary authorizations to start construction and are expected to enter into operation between 2009 and 2010, while construction licenses were already submitted for another 43 MW.

The payment will correspond to €51.3 million (including €8.5 million of shareholders’ loans), and EDP Renováveis will assume an additional €43.3 million of project finance financial debt. An additional success fee will be paid for the wind farms that obtain construction licenses until 31-Dec-2013.

The wind farms development team of the companies acquired will remain responsible for these projects, and join EDP Renováveis’ current team located in the French market. With this operation EDP will become the third wind farms player in France in terms of installed capacity, with 122 MW installed.

Horizon Wind Energy Exercises 200-MW Option with Suzlon Securing Additional Turbines for U.S. Projects

Tue, 01 Apr 2008 23:00:00 GMT

The original contract calls for delivery of 400 MW of turbine capacity in 2008 and 2009, and now has been expanded to include an additional 200 MW in 2009. The capacity will be supplied in Suzlon’s S88-2.1 MW wind turbine and will be delivered to various ready-to-build sites across the country.

The turbine agreement includes the supply of 95 units of the S88-2.1 MW in 2008 and 190 units in 2009. Suzlon is also contracted for operations, maintenance and service of the wind turbines for two years and an option for five.

“Electing this option for an additional 200 MW of turbines demonstrates our commitment to the US market,” said Antonio Martins da Costa, CEO, Horizon Wind Energy. “As pertained to our business plan, these turbines will be an important element in securing our growth over the next several years.”

“This order reinforces the trend for renewable energy and wind in the United States. Despite economic slowdown, new wind installations more than doubled in 2007 from 2006. With growth drivers like Renewable Portfolio Standards, and the US actively pursuing domestic resources of energy security - we see a strong, promising market going forward,” Andre Horbach – CEO, Suzlon Group stated.

The United States registered over 45% growth in 2006-07, and an average growth rate of over 35% over a three year period according to the World Market Update 2007 report published by Denmark-based global wind consultancy BTM Consult ApS. The United States also ranked as the world’s largest market in 2007 comprising 26.5% of the global market and 5,244 MW of new capacity installed.

About Horizon Wind Energy

Horizon Wind Energy is based in Houston, Texas with regional offices in New York, Oregon, Illinois, California, Colorado and Minnesota. With over 200 employees, Horizon has developed more than 2,000 megawatts (MW) and owns over 1,300 MW of operating wind farms. Horizon, which is currently developing a portfolio of more than 10,500 MW in over 15 states, is owned by Energias de Portugal (EDP), the largest utility in Portugal.

About Suzlon Energy Limited

Suzlon Energy Limited is one of the world’s leading players in wind energy. The company has come to the fore of the business by strategically focusing on R&D, innovation, an integrated value chain, and entering into emerging and high growth markets to drive sustainable growth.

Given the truly global nature of its business, Suzlon has its Group Management Center in Amsterdam, Netherlands, has corporate offices in Pune, India. The company’s global spread reflects in its projects and markets portfolio - extending across Australia, Belgium, Brazil, Canada, China, Denmark, Germany, Greece, India, Italy, Portugal, Spain, Turkey, the Netherlands, Nicaragua, and the United States.

Suzlon’s R&D effort includes a highly successful practice of leveraging skill and knowledge pools in the industry and allied areas the world over. This has resulted in a R&D network located across geographies known for their leadership in the field – Suzlon today drives turbine development from India and Germany, and aerodynamics research in the Netherlands. Suzlon matches innovation with quality, with systems certified by Det Norske Veritas (DNV) to ISO 9001:2000 standards.

Suzlon is a vertically integrated wind turbine manufacturer – with manufacturing capability along the full value chain – ranging from components to complete wind turbine systems. The company has established manufacturing facilities in India, China and the United States, to support the global spread of its operations. The company currently has a combined manufacturing base of 2,700 MW of annual capacity, and is undertaking an aggressive expansion program to expand its base to 5,700 MW of capacity in FY2008-09.

The success of the company’s strategy is seen in its growing market share, repeat orders, and breakthroughs into new markets. Suzlon ranked as the world’s fifth leading wind turbine manufacturer with over 10.5 % of global market share in 2007. The company has ranked as the leading manufacturer in the Indian market for nine consecutive years, maintaining over 50% market share.

Suzlon’s true strength is seen not only in its technology, quality and market share – but also its people. The Suzlon Group boasts one of the largest teams in the wind energy business, totaling over 13,000 people from over a dozen nationalities in operations around the world. Suzlon in its vision for future growth aims to rank among the top three wind turbine manufacturers worldwide, maximizing growth while maintaining margins to generate maximum value for all stakeholders. You can view more information on Suzlon at www.suzlon.com.

About Suzlon Wind Energy Corporation

Suzlon Wind Energy Corporation focuses on the North American market and is the wholly owned subsidiary of Suzlon Energy A/S, Denmark and a step-down subsidiary of Suzlon Energy Limited, India. The headquarters for North America - based in Chicago, Illinois –also feature sales and service offices located throughout the US.

Horizon Wind Energy Purchases 1050 MW From Hydra Wind

Thu, 14 Feb 2008 00:00:00 GMT

“This was a very attractive deal for Horizon and we enjoyed working with Hydra Wind to bring it to fruition. It proved to be a win/win for both parties involved ,” said Antonio Martins da Costa, CEO of Horizon Wind Energy. “In addition, because of this deal, Horizon will now have a stronger presence in Indiana and Ohio and will consolidate its leadership in Illinois.”

Headquartered in Houston, Horizon Wind Energy is a fully owned subsidiary of Energias de Portugal S.A. (EDP), a major Portuguese utility and one of the world’s largest generators of electricity from renewable energy sources. At the end of 2007, Horizon was operating wind power plants with a total installed capacity of more than 1,300 megawatts, and the company currently is developing a portfolio of more than 10,500 megawatts in more than a dozen states.

About Horizon Wind Energy

Horizon Wind Energy develops, constructs, owns and operates wind farms throughout the United States. Based in Houston, Texas with regional offices in New York, Oregon, Illinois, California, Denver and Minnesota, Horizon has developed more than 2000 MW and owns over 1300 MW of operating wind farms. Horizon is currently developing a portfolio of more than 10,500 MW in over a dozen states. Horizon is owned by Energias de Portugal (EDP), the largest Portuguese utility.

About Hydra Wind, LLC

Hydra Wind is an early stage wind energy developer that develops wind farms throughout the Midwest. Based in Wilmington, Delaware, Hydra has previously developed and transferred approximately 500 MW of wind projects. For more information about Hydra Wind, LLC, please visit www.naveenenergy.com.

Horizon Wind Energy Signs Wind Turbine Supply, Service Agreements with GE Energy

Tue, 29 Jan 2008 00:00:00 GMT

GE will supply Horizon with 201 1.5-megawatt wind turbines, to be shipped during 2010. Under a separate, two-year agreement, GE will provide operations support, parts and maintenance for those units.

“We see strong potential for future wind projects throughout this region, and our new Albany office positions us to better serve this promising market,” said Antonio Martins da Costa, CEO of Horizon Wind Energy. “In addition, our local presence will reinforce our strong relationship with GE Energy’s renewable energy business, based in nearby Schenectady, NY.”

“Albany and the Capital Region have a rich history in the energy industry,” said Albany Mayor Jerry Jennings. “It’s great to see that we will continue to play an integral role in the future as clean energy technologies from companies like GE Energy begin to change the way we produce energy. I’m thrilled that Horizon Wind Energy has chosen Albany as the site to manage its northeastern activities.”

“With their new presence in the region, we look forward to working even more closely with Horizon Wind Energy,” said Victor Abate, Vice President-Renewables for GE Energy. “The new agreements with Horizon are further evidence that the wind industry continues to embrace our 1.5-megawatt wind turbine technology and support services. We have provided more than 7,700 of these machines for projects worldwide.”

The new agreements with Horizon Energy follow the October, 2007 announcement of a global frame agreement between GE and with Horizon’s parent company, EDP, for the supply of 500 megawatts of wind turbines for 2008 and 2009 projects in the U.S. and Europe.

In addition to its relationship with GE Energy, Horizon Wind Energy is receiving a $300 million equity investment from GE Energy Financial Services in four of its wind farms. The investment will go to a 600-megawatt portfolio of wind farms in Oregon, Minnesota, Illinois and Texas.

GE Energy’s wind turbine technology is a key component of ecomagination, the GE corporate-wide initiative to address challenges such as the need for cleaner, more efficient sources of energy, reduced emissions and abundant sources of clean water.

About Horizon Wind Energy

About GE Energy

GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2007 revenue of $22 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.

With wind turbine design, manufacturing and assembly facilities in Germany, Spain, China, Canada and the United States, GE Energy is among the leading providers of wind energy products and support services ranging from commercial wind turbines and grid integration products to project development assistance and operation and maintenance. The company's knowledge base includes the development and/or installation of more than 7,500 wind turbines with a total rated output of more than 9,800 megawatts.

EDP signs contract with GE Energy

Tue, 29 Jan 2008 00:00:00 GMT

Horizon also announced the inauguration of its regional headquarters in Albany, in the state of New York, to supervise future projects in New York state and the North-east of the United States.GE will supply Horizon with 201 1.5 megawatt wind turbines, the delivery of which will be completed by 2010. The 2 year agreement includes both the supply of turbines and the maintenance service for these. “We predict a sharp growth in future wind energy projects in this entire region, and our new Albany office enables us to better attend to this promising market”, stated Antonio Martins da Costa, CEO of Horizon Wind Energy. “In addition, our local presence will further reinforce our strong work relationship in GE Energy’s renewable energy sources department, whose headquarters are situated near to Schenectady, in New York”.“Albany and the region’s capital have a rich history in the energy industry”, states Albany Chamber President, Jerry Jennings. “We are glad to be able to continue playing an integral role in the future, while clean energy technology in companies like GE Energy begin to change our way of producing energy. We were delighted to receive the news that Horizon Wind Energy had chosen Albany as the place from which to manage its activity in the North-east”.“Now present in this region, we are glad to be able to work closer to Horizon Wind Energy”, says Victor Abate, Vice-president of Renewable Energy Sources at GE Energy. “The new agreements with Horizon is hard evidence of the fact that the wind energy industry continues to support our 1.5 megawatt wind turbine technology and our support services. We supply more than 7,700 of these machines to projects all over the world”.With its headquarters in Houston, Horizon Wind Energy is a subsidiary company of EDP – Energias de Portugal S.A., the largest Portuguese utility and one of the largest companies in the world, producing electricity from renewable energy sources. At the end of 2007, Horizon ran wind farms with an installed capacity of over 1,300 megawatts. The company is currently developing a portfolio of more than 10,500 megawatts in several states.The new agreements with Horizon Energy, which continued in October 2007, announce global agreements between GE and Horizon, an EDP subsidiary, for the supply of 500 megawatt turbines, for projects in the 2008/2009 period, in the USA and Europe.In addition to the relationship with GE Energy, Horizon Wind Energy is being given an equity investment of 3 billion dollars in four of its wind farms. The investment shall be allocated to a portfolio of 600 megawatt wind farms in Oregon, Minnesota, Illinois and Texas.The GE turbine technology, a key component of Ecomagination, is included in the GE company initiative to launch challenges, such as the need for cleaner and more efficient energy sources, with the aim of lowering emissions and increasing clean water sources.The company’s knowledge base includes the running and/or installation of more than 7,500 wind turbines with a nominal production of over 9,800 megawatts.

EDP begins to prepare a potential IPO for EDP Renovables

Mon, 28 Jan 2008 00:00:00 GMT

In view of, and for the purposes of the stipulations set out in article 248 of the Stock Market Code, EDP – Energias de Portugal, S.A. (“EDP”) hereby announces the following to the market and general public:

After listening to the opinion of the General Supervisory Board, the Executive Board of Directors of EDP decided to begin preparing a potential initial public offering for EDP Renovables S.L., an EDP group holding for renewable energy sources, which controls the NEO energía and Horizon Wind Energy subsidiaries.

NEO Energía purchases 60 wind turbines from Gamesa for Poland

Mon, 21 Jan 2008 00:00:00 GMT

The 60 wind turbines, which are to be allocated to the Margonin wind farm in Poland, have a nominal output of 2.0 MW, which will bring the installation to a total output of 120 MW. This contract includes the supply, installation and implementation of the Gamesa G90 wind turbines.In 2007, Neo energía acquired a set of projects for the development of 1.022 MW of wind energy in Poland. Out of all the countries in Central and Eastern Europe, Poland has one of the greatest potentials for growth in the renewable energy sector. Its target is that 10.4% of the energy consumed in the period 2010-14 will come from renewable energy sources, representing around 4,000 MW of installed wind energy capacity in 2014.In addition, Gamesa will deliver 46 wind turbines to Neo energía for Spain and 16 for France. The agreement reached for Spain consists of the supply of 46 wind turbines, with a total output of 92 MW in various Spanish wind farms. The total value of this contract exceeds 80 million Euros.The Spanish wind energy market orders relate to the pluri-annual agreement signed between Gamesa and Neo energía. They include the supply, installation, implementation and maintenance of 21 Gamesa G90-2.0 MW wind turbines in several farms in Andalusia, as well as the installation, implementation and maintenance of another 25 G80-2.0 MW wind turbines in the Carondio wind farm in Asturias.Gamesa will also supply Neo energía with 16 wind turbines to be installed in French wind farms, totalling 19 MW and amounting to an investment of 18 million Euros. The supply allocated to France includes the installation, implementation and maintenance of 11 Gamesa G58-850 KW wind turbines and 5 G90-2.0 MW Gamesa wind turbines for various French wind farms. All of the devices that Gamesa is set to give Neo energía generate clean energy, thus preventing the emission of pollutant substances into the atmosphere. In total, the 122 wind turbines contracted lead to a reduction in CO2 emissions of 346,500 tonnes per year, around 180,000 tonnes in Poland, 138,000 tonnes in Spain and 28,500 tonnes in France.

Great River Energy begins purchasing energy from Prairie Star Wind Farm

Mon, 14 Jan 2008 00:00:00 GMT

Prairie Star Wind Farm will produce 352,000 megawatt-hours of clean energy which is enough to power approximately 33,000 Minnesota homes. Construction of the sixty-one 1.65 MW wind turbines started in spring 2007 and the project came online in December 2007. Prairie Star Wind Farm will prevent the annual emission of approximately 290,000 tons of carbon dioxide, nearly 700 tons of nitrogen oxide (which causes smog), and nearly 900 tons of sulfur dioxide (which causes acid rain). This is the equivalent of taking nearly 60,000 cars of the road.

“The Prairie Star Wind Farm is an excellent fit for Great River Energy. Not only does it provide us with clean, renewable energy it also brings us closer to our commitment to reach the 25 percent renewable energy standard by the year 2025”, said Mark Rathbun, Great River Energy renewable energy project leader. With the Prairie Star Wind Farm output, Great River Energy’s renewable portfolio includes 213 MW of wind resources as well as a number of renewable biomass resources.

“The commercial operation of the Prairie Star Wind Farm is a milestone event. We are very pleased to work with Great River Energy in providing clean, renewable energy to their customers in the state of Minnesota,” said Antonio Martins da Costa, CEO of Horizon Wind Energy.

About Great River Energy

Great River Energy (www.GreatRiverEnergy.com) is a not-for-profit generation and transmission cooperative providing electricity to 28 distribution cooperatives in Minnesota and Wisconsin who, in turn serve approximately 620,000 consumers.

About Horizon Wind Energy

Horizon Wind Energy develops, constructs, owns and operates wind farms throughout the United States. Horizon-developed wind farms operate in Illinois, Minnesota, Texas, New York, Iowa, Pennsylvania, Washington and Oklahoma. Horizon has developed more than 2,000 MW and owns over 1,300 MW of operating wind farms. Horizon is currently developing a portfolio of more than 10,500 MW in over a dozen states. Horizon is owned by Energias de Portugal (EDP), the largest utility in Portugal.

NEO acquired 1,022 MW of wind projects to be developed in Poland

Wed, 19 Dec 2007 00:00:00 GMT

The portfolio of projects acquired has a total gross capacity of 1,022 MW in different stages of development – the first wind farm, with 120 MW of installed capacity, is expected to start operations in 2009. Turbines supply for this first wind park is already secured. The remaining of the capacity to be installed should start operations between 2010 and 2013.

The companies acquired have an experienced high-quality management team with a superior knowledge of the electricity sector, in particular of the Polish renewable energies sector and of major local operators, and will continue managing these projects in Poland.

Poland is one of the countries of Central and Eastern Europe with higher growth potential in the renewable energies sector, targeting that 10.4% of energy consumption in the 2010-2014 period should come from renewable energy sources. This target should represent some 4,000 MW of wind capacity in 2014. The regulatory framework is stable allowing a better characterisation of operating conditions.

This operation is a natural fit to EDP’s strategy for renewable energies. The company’s entry into the Polish market for renewable energies allows the creation of an additional growth platform and of a starting point for the expansion of this business into Eastern Europe. This acquisition is expected to enable EDP to become one of the leaders in Poland, a market that today has about 200 MW of installed capacity, and to guarantee the future growth of the renewable energies business, mostly after 2010.

Deutsche Bank and Millennium bcp acted as financial advisers and Gonçalves Pereira, Castelo Branco e Associados, RL and Gleiss Lutz Pietrzak Siekierzynski Sp. k. acted as legal advisers to EDP in this transaction.