EDPR upbeat on US renewables market, sees profitable growth and new opportunities

By Sergio Goncalves

- Portugal's EDP Renewables EDPR.LS, the world's fourth-largest wind power producer, remains optimistic about the U.S. market and anticipates profitable growth despite moves by President Donald Trump to roll back renewables, its CEO said on Thursday.

Since last July, when Washington accelerated the phase-out of tax credits for renewable energy projects, EDPR has secured 1.4 gigawatts of new capacity in the U.S. and expects significant growth in the coming months, Miguel Stilwell de Andrade told an analyst call.

"Market fundamentals remain strong. The combination of robust demand growth, attractive power purchase agreement pricing and disciplined execution positions us well to continue delivering profitable growth," he said.

"We're seeing additional value creation opportunities."

The U.S. accounts for around 50% of EDPR's total installed capacity of 20.5 GW and is a key contributor to its earnings.

EDPR plans to invest 4.5 billion euros ($5.30 billion) - roughly 60% of its total spending - there over the next three years.

Stilwell de Andrade said EDPR expects renewable generation to grow at a compound annual rate of around 8% between 2025 and 2030 in the U.S., "a trend already visible, with renewables accounting for more than a third of electricity generation in March, surpassing natural gas for the first time."

Contract prices in the United States continue to rise, he said, and "are well above previous cycles, supporting strong returns for new investments."

EDPR is also upgrading old wind farms there, which will increase output, extend lifespan and improve returns, helped by new tax credits and lower costs.

The company is also positioning itself to meet the strong demand for power from data centres.


($1 = 0.8498 euros)