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.

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