• EDP Renovaveis published transcript of its 1Q26 results call chaired by CEO Miguel Stilwell d’Andrade, joined by CFO Rui Teixeira and Head of Investor Relations and ESG Miguel Viana.
• Management lifted 2026 EBITDA guidance 5% to about EUR 2.2 billion, citing stronger underlying performance, higher asset rotation gains now seen at EUR 0.2 billion to EUR 0.3 billion, lower core OpEx, and improved macro tailwinds including Spain generation tax relief.
• EDPR flagged limited wholesale price risk with 85% of generation contracted or hedged, targeting average selling price of EUR 51-53/MWh in 2026; CEO pointed to recurring net profit consensus comfort at EUR 400 million to EUR 450 million.
• Company played down near-term impact from reported US federal wind licensing blocks, noting 2026-2028 plan includes only one US repowering project already under construction; additional 600 MW of repowering in marketing stage framed as post-2028 upside.
• Ocean Winds US offshore settlement expected to recover about $0.2 billion of lease value with no P&L gain or loss, reducing EDPR US offshore book exposure to $0.2 billion; CFO expects reimbursement to cut 2026 net debt, while South Coast Wind remains “hibernated” as options are evaluated.

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