•  
  •  
  •  

EDF Renewables' revenues grow 10% in Q1

The Red Pine wind farm in Minnesota. Source: EDF Energies Nouvelles (www.edf-energies-nouvelles.com).

May 15 (Renewables Now) - EDF Renewables, the renewables arm of French utility EDF SA (EPA:EDF), posted a 10% year-on-year increase in first-quarter sales, helped by favourable price effects and wind conditions.

The company’s revenues in the three months totalled EUR 417 million (USD 467.3m), up from EUR 379 million a year before. In organic terms, revenues went up by 2.9%. This growth was achieved regardless of the fact that power generation slipped by 0.1 TWh to 4 TWh after some asset disposals were made, EDF said on Tuesday.

At the end of March, EDF Renewables owned assets with a net installed capacity of 8.3 GW, which it said was “broadly stable” as compared to end-2018. Additionally, it had 3.5 GW of projects under construction, of which 1.4 GW solar.

During the first quarter, EDF Renewables took over solar park operator Luxel, which is the owner of a 1-GWp portfolio of projects either in operation, ready to begin construction or in development. It also won a 60-MWp solar project in a Greek auction for renewables capacity and brought online a 100-MW wind farm in Minnesota. The company also enhanced its operations in China by agreeing to buy into a couple of Chinese offshore wind projects with a combined capacity of 500 MW and acquiring a majority stake in a 77.1-MWp portfolio of rooftop solar plants in China from its joint venture (JV) partner Asia Clean Capital (ACC).

(EUR 1.0 = USD 1.121)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription