The growth in production during the first three months of the year has been attributed by EDP’s renewable energy branch to “higher installed capacity and renewable resources above the long-term average,” according to preliminary operational data for the first quarter released today to the Comissão do Mercado de Valores Mobiliários (CMVM).
Over the past 12 months, gross capacity additions amounted to 3.4 GW, with a significant contribution from Europe and North America (83%), of which 72% was solar capacity, details the company led by Miguel Stilwell d’Andrade.
Of the total 10.9 terawatt-hours (TWh) produced in the first three months of the year, Europe and North America accounted for 29% and 59% respectively of the total generation. South America accounted for 9% and the Asia-Pacific region 3%.
In the North American market, production increased by 20% compared to the same period last year, driven by new additions and an improvement in wind conditions compared to the first quarter of the previous year. Wind power continues to be the main source of production for EDP Renováveis, contributing 82% of total generation.
Conversely, in Europe, production decreased by 12% from the same period last year, “affected by below-average wind resources and the net impact of capacity additions and asset rotation transactions over the last 12 months,” explains EDP Renováveis.
Last year, the company completed asset rotation transactions for wind and solar capacity in Europe, including 0.2 GW in Italy in June and 0.2 GW in Poland in September.
In 2025, asset rotation transactions are expected to be mostly concentrated in the second half of the year, including two recently announced transactions in Spain and the USA, scheduled to close before the summer.
Meanwhile, in South America, production increased by 56% in the first quarter of the year, driven by improved renewable resources and additions of wind and solar capacity in Brazil.
Finally, production in the Asia-Pacific region increased by 2% year-on-year, following solar capacity additions, representing 3% of the company’s total production.
By March 2025, construction capacity was at 2.4 GW (+0.4 GW since December 2024), supporting the expectation of capacity additions of around 2 GW in 2025, which are progressing positively and in line with expectations, including some capacity to be installed in 2026.
The technology-specific construction capacity includes “1.0 GW of solar, mostly concentrated in the USA, 0.7 GW of onshore wind, with a higher concentration in Europe, 0.3 GW of batteries, with a major focus in the USA, and 0.3 GW of offshore wind, associated with OW projects [a joint venture between EDP Renováveis and French company Engie] in France.”
