In the year EDPR installed over 600 MW and over 1 GW after accounting for the consolidation of ENEOP.
EDPR CONTINUES TO DELIVER SOLID SELECTIVE GROWTH
With a top quality portfolio present in ten countries, EDPR has a strong track record and proven capability to execute superior projects and deliver on targets. The installed asset base of 9.6 GW is not only young, on average 6 years, it is also mostly certified in terms of environmental and health and safety standards.
Since 2008, EDPR has doubled its installed capacity with the additions of 5.2 GW, resulting in a total installed capacity of 9,637 MW (EBITDA + Net Equity). As of yearend 2015, EDPR had installed 5,142 MW in Europe, 4,412 MW in North America and 84 MW in Brazil.
During 2015 EDPR added 602 MW to its installed capacity, of which 398 MW were in North America and 204 MW in Europe.
2015 INSTALLATIONS CONCENTRATED IN THE UNITED STATES
The largest growth in installed capacity occurred due to the completion of 398 MW in the U.S. All of the MW had previously secured long-term power purchase contracts, thus providing long term stability and visibility on the revenue stream.
Total EBITDA + Net Equity installed capacity surpassed 4.4 GW in the U.S.
In Europe, half of the growth in capacity came from additions in Rest of Europe. Iberia also contributed with 93 additional MW, mainly due to ENEOP asset split, which as of September 1st was 100% consolidated in EDPR.
In Poland, EDPR continues to see positive growth with the installation of 77 MW, 47 MW from the Tomaszów wind farm located in the central region and 30 MW from Poturzyn.
EDPR added 24 MW to its installed capacity in France with the completion of the Escardes and Montagne Fayel project, both of them with 12 MW of installed capacity. Finally, EDPR was able to deliver on 10 MW in Italy with the Parco la Rocca project.
MORE THAN HALF OF 2016 CAPACITY ADDITIONS ALREADY UNDER CONSTRUCTION
By the end of 2015, EDR had 344 MW under construction all related to projects to be delivered in 2016 with long them secured remuneration.
In Mexico, EDPR started the works of its first wind farm in the country, 200 MW with a secured PPA in the state of Coahuila.
In Brazil EDPR has 120 MW under construction related to the Baixa do Feijão projects after successfully bidding in the A5 auction for 20 year PPAs schedule to start in 2016.
Feijão projects after successfully bidding in the A5 auction for 20 year has a solid long-term growth strategy.
92% OF EDPR’S INSTALLED CAPACITY IS COVERED BY ISO 14001 CERTIFICATION
The Environmental Management System (EMS) is developed in accordance standard with the ISO 14001 international standard and certified by an independent certifying organization. These consensus standards are considered the world’s benchmark for EMS Management Systems and is a guarantee that EDPR sites, regardless of its regulatory environment are aligned and at the same level of compliance. For more information regarding the MW certified please refer to page 86.
In addition to operating high quality and safe assets, EDPR also has a young portfolio with an average operating age of 6 years, with an estimate of over 19 years of useful life remaining to be captured.
In Europe, EDPR’s portfolio had an average age of 6 years, in North America 5 years, and in Brazil 5 years.
Throughout the entire process, from development to operations, EDPR maintains the highest standards in construction quality, integrity, and sustainability.
As an exemple, EDPR made numerous efforts to minimize impacts and promote environmental stewardship at Arbuckle Mountain. Despite the eagles
8% INCREASE IN YOY GENERATION
EDPR generated 21.4 TWh during 2015. When adding the over 1 TWh produced from our equity projects, enough clean energy was produced to serve 44% of the electricity demand of Portugal.
The 8% year-on-year increase in the electricity output benefited from the capacity additions over the last 12 months and ENEOP consolidation.
Due to a lower wind resource, EDPR achieved a 29% load factor during 2015, which compares with a 30% load factor achieved in 2014.
EDPR also achieved a stellar 98% availability. The company continues to leverage on its competitive advantages to maximize wind farm output and on its diversified portfolio to minimize the wind volatility risk.
PREMIUM PERFORMANCE AND DIVERSIFIED PORTFOLIO DELIVERS BALANCED OUTPUT
EDPR’s operations in North America were the main driver for the electricity production growth in 2015, increasing by +9% YoY to 11.1 TWh and represented 52% of the total output (stable year-on-year). This performance was driven by EDPR’s unique ability to capture the wind resource available along with the contribution from new additions. EDPR achieved a 32% load factor in North America, -1pp vs. 2014.
Production growth in Europe was mainly due to reaping the benefits from the installed capacity in 2014, which help offset the decline in year on year load factor. All countries deliver positive growth except for Spain where 2014 was considered an outstanding year in terms of wind resource.
Spain (-2pp) and Portugal (-3pp) capacity factors were lower YoY, although the efficiency achieved was in line normal expectations. Moreover, EDPR delivered once again a solid premium over the Spanish market average load factor (+2pp).
The Rest of Europe operations delivered a 27% load factor (24% in 2014) and posted higher year on year generation. Poland and Romania lead the increase in production with +572 GWh YoY as new capacity and a solid resource contributed to the strong performance. Higher production in Italy (+44 GWh) and France (+90 GWh) was due to a mix of new capacity and stronger wind resource. The remaining countries delivered stable growth of 23 GWh.
In 2015, EDPR’s output in Brazil decreased 6% YoY to 222 GWh, as a result of a weaker wind resource during the year, and led to a lower load factor of 30% (-2pp).
CARBON FREE ENERGY
The 21.4 TWh of electricity produced by EDPR has zero carbon emissions, thus contributing to the world’s fight against climate change. Based on each countries’ thermal emission factors, an estimate of 18.7 million tons of CO2 equivalent emissions were avoided that would have otherwise been emitted by burning fossil fuels to generate the same amount of electricity in the geographies where EDPR is present.