Investor Alert

London Markets Open in:

July 13, 2020, 2:17 a.m. EDT

EDP Electricity Generation falls in second quarter

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Giulia Petroni

EDP-Energias de Portugal SA said late Friday that its installed capacity at the end of June was lower than a year ago, and electricity generation fell in the second quarter.

The Portuguese energy company said it had an installed capacity of 26.8 gigawatts at the end of June--74% of which from renewable sources--compared with 27.3GW one year ago. The decline in capacity is due to the deconsolidation of wind portfolios.

"As of end of June, we had 2.0GW of wind and solar projects under construction, twice as much the 1.0GW under construction as of March, reflecting increasing pace of activity," EDP said.

Electricity generated in the second quarter fell to 13.7 terawatt hours from 15.8TWh the previous year. In the first half of the year, the company generated 32TWh.

EDP said total electricity distributed in the first half fell 5.9% on year in the Iberian peninsula and 8.3% in Brazil, as volumes suffered from the coronavirus crisis.

Write to Giulia Petroni at giulia.petroni@wsj.com

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.