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    EDP   PTEDP0AM0009

EDP - ENERGIAS DE PORTUGAL, S.A.

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EDP Energias de Portugal S A : opens offshore wind farm operations center in Scotland

10/21/2021 | 10:14am EST
EDP opens offshore wind farm operations center in Scotland
Thursday21, October 2021
Corporate
International
Renewable energy
Sustainability

Moray East, which went into operation in June, has an installed capacity of 950 MW. The ceremony was held today and was attended by Scotland's Minister of Energy, Michael Matheson, and the CEO of EDP, Miguel Stilwell d'Andrade.

EDP today inaugurated the operations and maintenance center of Moray East offshore wind farm, which will now be controlled by this new infrastructure located in Fraserburgh Port, Scotland. The inauguration ceremony was attended by Scotland's Minister of Energy, Michael Matheson, and the CEO of EDP, Miguel Stilwell d'Andrade. Moray East, which went into operation in June, is one of the most important EDP-controlled assets in the country, thanks to an EDP/Engie joint venture established in 2019 - Ocean Winds.

This new operations and maintenance center will now manage this offshore wind farm, in particular by controlling the vessel 'Alba', which regularly spends two-week periods at sea with a crew to carry out maintenance works on the infrastructure, 22 kilometers off the coast. The operation center, fully built using local suppliers and labor, will create about 100 jobs locally.

Moray East has an installed capacity of 950 MW - enough to avoid 1.4 million tonnes of CO2 emissions. The farm is located in the Moray Firth area, which is home to a similar wind project called Moray West - a wind farm with an installed capacity of 850 MWand which is expected to come into operation in the coming years.

Ocean Winds has invested €3.1 billion in these two projects and is planning to invest a further €2.6 billion in Moray West over the next 3 to 4 years. This amount is included in EDP's investment plan for the United Kingdom, which was announced earlier this week and will allow the Group to invest up to €15 billion

Disclaimer

EDP - Energias de Portugal SA published this content on 21 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2021 14:13:08 UTC.


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Sales 2021 12 943 M 14 651 M 14 651 M
Net income 2021 837 M 947 M 947 M
Net Debt 2021 12 283 M 13 903 M 13 903 M
P/E ratio 2021 22,8x
Yield 2021 3,94%
Capitalization 19 205 M 21 644 M 21 739 M
EV / Sales 2021 2,43x
EV / Sales 2022 2,37x
Nbr of Employees 12 232
Free-Float 69,1%
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EDP - Energias de Portugal, S.A. Technical Analysis Chart | EDP | PTEDP0AM0009 | MarketScreener
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Mean consensus BUY
Number of Analysts 23
Last Close Price 4,87 €
Average target price 5,72 €
Spread / Average Target 17,7%
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Managers and Directors
Miguel Stilwell de Andrade Chief Executive Officer, CFO & Executive Director
LuÝs Filipe Marques Amado Chairman-Supervisory Board
Rita Sousa Head-Compliance
Maria Celeste Ferreira Lopes Cardona Member-Supervisory Board
Fernando Maria Masaveu Herrero Member-Supervisory Board
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