EDP Renovaveis SA, a major player in the renewable energy sector, disclosed a 3% year-on-year decline in the output of its renewable power plants, amounting to 9.9 TWh in the first quarter of 2024.
The company attributed this downturn to a significant reduction in renewables generation, particularly in Brazil, where EDPR's power production plummeted by 54%.
In the same period, EDPR finalized two asset rotation deals, one in the United States for an 80% stake in a 0.3 GW solar portfolio and another involving an 80% stake in a 0.3 GW wind project in Canada.
Despite the dip in output, the installed capacity in EDPR's renewables portfolio witnessed growth, reaching 16.5 GW in the first three months of 2024.
Notably, Europe and North America accounted for 36% and 50% of this capacity, respectively. The company also disclosed that it currently has 4.6 GW of new capacity under construction.
