Volumes & Capacity Statement 9M 2017 Investor Relations Department Rui Antunes, Head of IR Maria Fontes Pia Domecq Paloma Bastos-Mendes Phone: Fax: Email: Site:
+34 902 830 700 +34 914 238 429
[email protected] www.edpr.com
October 17th, 2017 EDP Renováveis, S.A.
Head office: Plaza de la Gesta, 2
33007 Oviedo, Spain
Electricity Generated and Installed Capacity Electricity Generated (GWh)
9M17
Spain Portugal Rest of Europe Europe US Canada Mexico North America Brazil Total
9M16
3,730 2,208 2,575 8,514 10,232 53 454 10,739 564 19,817 3Q17
Load Factor (%)
3Q16
3,982 2,317 2,282 8,581 8,981 52 9,033 440 18,054 9M17
% (6%) (5%) +13% (1%) +14% +1% +19% +28% +10% 9M16
Spain Portugal Rest of Europe Europe US Canada Mexico North America Brazil Total
22% 24% 21% 22% 23% 13% 39% 23% 55% 23%
23% 21% 17% 21% 24% 21% 24% 32% 22%
26% 27% 25% 26% 34% 27% 41% 34% 42% 30%
28% 28% 23% 27% 32% 27% 32% 30% 29%
Wind Index (vs P50)
96%
97%
99%
100%
Installed Capacity (Sep-17) BR 2% NA 49%
Capacity Additions in the last 12 months
10.7 GW
+917 MW
PT 12%
RoE 15%
Installed Capacity (MW) Spain Portugal Rest of Europe Europe US Canada Mexico North America Brazil EBITDA MW Other equity consolidated (Spain + US) EBITDA MW + Equity consolidated
YTD
• In the 9M17, EDPR achieved a 30% load factor (vs 29% in the 9M16) reflecting capacity additions with higher load factors and the wind resource in the period (99% vs 100% of P50 in 9M16). In the 3Q17, EDPR reached a 23% load factor (vs 22% in the 3Q16), with QoQ comparison benefiting from capacity additions with higher load factor. • In Europe, EDPR reached 26% load factor (vs 27% in the 9M16), with YoY comparison penalized by 9M16 outstanding wind resource in Spain and Portugal. In the 9M17, EDPR accomplished a load factor of 26% in Spain, above market average (+3pp). In Portugal, EDPR reached a load factor of 27%, which was lower YoY but still higher if compared with an average 9M. In RoE, EDPR delivered a 25% load factor vs 23% in the 9M16. In North America, EDPR achieved a 34% load factor (vs 32% in the 9M16), benefitting from capacity additions with higher load factors. In Brazil, EDPR reached a 42% load factor (vs 30% in the 9M16), also benefitting from a YoY higher wind resource along with the positive impact from the latest capacity additions.
• In the 9M17, EDPR global portfolio increased by 245 MW, of which 220 MW are related to new capacity (US: 199 MW; France: 18 MW; Portugal: 3 MW) and the remaining 25 MW to the acquisition of a 50% participation in a Spanish wind farm that was previously equity accounted.
NA +827
9M17
• In the 9M17, EDPR operations in Europe, North America and Brazil generated 43%, 54% and 3% of the total output, respectively. In Europe, EDPR generation decreased 1% YoY to 8.5 TWh, with YoY comparison impacted by the outstanding wind resource in the 9M16 vs a normalized wind resource in the 9M17. In North America, EDPR output increased by 19% YoY, to 10.7 TWh, reflecting the higher capacity and the higher load factor of such projects. In Brazil, production increased to 564 GWh driven by capacity additions with higher wind resource.
• As of Sep-17 EDPR managed a global portfolio of 10.7 GW spread over 11 countries, of which Europe accounted for 49%, including 2.4 GW in Spain, 1.6 GW in RoE and 1.3 GW in Portugal, North America for 49%, including 5.1 GW in US, 30 MW in Canada and 0.2 GW in Mexico, and Brazil for the remaining, equivalent to 0.2 GW.
SP PT RoE +25 +3 +62
SP 22%
• EDPR produced 19.8 TWh of clean energy in the 9M17 (+10% YoY). The YoY increase in production benefits from the capacity additions over the last 12 months along with a higher YoY wind resource (30% vs 29% in the 9M16).
YoY
Under Constr.
2,244 1,253 1,560 5,057 4,831 30 200 5,060 204
+50 +3 +18 +70 +199 +199 -
+50 +3 +62 +114 +628 +200 +827 -
68 41 109 303 303 263
10,321 331 10,652
+269 (25) +245
+942 (25) +917
675 675
• In the last 12 months EDPR increased its global portfolio by 917 MW, of which 90 MW in Europe and 827 MW in North America. In Europe, 44 MW were installed in Italy, 18 MW in France, 3 MW in Portugal and 25 MW net were added in Spain. In North America, were completed 6 wind farms, of which 5 in the US: Hidalgo (250 MW), Timber Road III (101 MW), Meadow Lake V (100 MW), Redbed Plains (99 MW) and Jericho Rise (78 MW), and 1 wind farm in Mexico (200 MW). • As of Sep-17, EDPR had 675 MW under construction. In the US were under construction 303 MW, namely Quilt Block 98 MW (Wisconsin), Arkwright 78 MW (New York) and Hog Creek 66 MW (Ohio) projects, along with 60 MW (South Carolina) related to solar PV projects with qualified facility PPAs for the entire production over 15 years. In Europe were 109 MW under construction, of which 68 MW in Spain, 37 MW in Italy and 4 MW in France. In Brazil were under construction a total of 263 MW from Babilonia and JAU and Aventura wind farms. Next Events: 9M17 Results will be published on October 31st, 2017 before the Euronext Lisbon market opens.