Group

Capacity

+806 MW added in 2011

EDPR has a strong track record and proven capability to execute projects and deliver on targets.

During 2011, EDPR installed additional capacity of 806 MW. A majority of the new additions came from Europe (538 MW), with the remaining additions coming from North America (198 MW) and Brazil (70 MW).

7,483 MW installed

Since 2007, EDPR has increased its installed capacity nearly 3 fold, resulting in a total installed capacity of 7.5 GW.

In Europe, EDPR reached a total capacity of 3,977 MW, representing a 22% annual growth since 2007. Eastern Europe was the major growth driver in 2011, with 265 MW of new installations that allowed EDPR to maintain its leadership position in its fastest growing market.

In North America, EDPR reached a total capacity of 3,422 MW, representing a 32% annual growth since 2007. The two projects built were significant achievements as Timber Road II was the first utility scale wind farm built in Ohio and Blue Canyon VI, in Oklahoma, is one of the most competitive projects in the US.

With the completion of its first fully developed wind farm in Brazil (Tramandaí), EDPR reached a total capacity of 84 MW.

Development

375 MW under construction

As EDPR continues to grow its operations, it currently has 375 MW under construction, with 215 MW in North America and the remaining 160 MW in Europe.

The 215 MW Marble River wind farm in New York already has a long-term NYSERDA REC contract and will be EDPR’s fourth project in the state.

Poland currently has 80 MW under construction and continues to remain a major growth driver for the European platform.

EDPR currently has its first wind farm under construction in Italy, signifying a major milestone in the portfolio.

11 Countries, 3 Continents

EDPR manages a global portfolio present in eleven different countries spanning over three continents.

In 2011, EDPR continued to define its growth strategy by obtaining flexible contracts in terms of time and geography to have the full benefit of optionality. The portfolio of projects under development (segmented in pipeline and prospects) to fuel future growth totalled 21,028 MW.

EDPR consolidated its pipeline in 2011 to focus on growth in the most profitable areas and still maintain flexibility in its options for future growth.

Production

+17% YoY increase
16,800 GWh produced

EDPR’s electricity production totalled 16,800 GWh, a 2,449 GWh increase over 2010 and a 45% growth rate since 2007, outpacing capacity growth.

In Europe, EDPR produced 7,301 GWh, a year over year increase of 10% on the back of the new capacity installed.

In North America, EDPR produced 9,330 GWh, a year over year increase of 21% as a result of the new capacity added during 2010 and an exceptional wind year for the company as it reached its second highest recorded net capacity factor.

With the completion of the Tramandaí wind farm, production in Brazil increased nearly 6 fold over the prior year to reach 170 GWh.

29% quality net capacity factor

EDPR continues to achieve stable net capacity factors, ending the year with a 29% net capacity factor.

As the company continues to leverage on its competitive advantages to maximize wind farm’s output and on its diversified portfolio to mitigate the wind volatility risk, it maintains its position as achieving one of the highest net capacity factors in the wind sector.

EDPR achieved a stellar 97% availability, further demonstrating the high quality of our assets and the execution of our operations strategy.

Tariff

Stable selling price
90% Regulated/PPA

Out of the total installed capacity, 90% are under regulated remuneration schemes or have long-term power purchase agreements. This enables EDPR to minimize risk related to merchant prices.

In an effort to further reduce merchant exposure, EDPR entered into hedges and secured long-term contracts for 146 MW in North America.

€58/MWh achieved

EDPR’s average selling price reached €57.7/MWh, a €0.7/MWh or 1% decrease from 2010.

Average selling price, excluding revenues associated with the Production Tax Credits in the US, was lower year over year mainly due to a weaker US dollar and an increased weight of NA production, whose price was also lower compared to the prior year. These unfavourable impacts were partially offset by positive contributions from all European geographies and Brazil.

“2011 was another excellent year for EDPR as we continued to grow and achieve targets despite challenging market conditions.”

Ana Maria Fernandes, CEO