EDP Renewables Profit Rises 133% on Asset Sales
The Portugal-based renewable energy producer reported higher nine-month earnings after selling assets and completing its Brazilian divestment.
Updated on Nov. 5, 2026 in Corporate Finance
EDP Renewables reported recurring net profit of €439 million for the first nine months of 2026, up 133% from €189 million a year earlier. The company also completed the sale of its Brazilian operations to a subsidiary of parent company EDP for €990 million on October 28, 2026.
Why it matters
Gains from asset sales rose to €333 million from €59 million, contributing significantly to the improved results. Underlying EBITDA excluding those gains grew roughly 4%, a more modest rate of operating improvement.
Recurring net profit rose 133% to €439 million and recurring EBITDA climbed 23% to €1.73 billion for the nine months ended September 2026. Net debt stood at €8.35 billion at the end of September, and the company's underlying EBITDA excluding asset sale gains grew about 4%.
The players
EDP Renewables
A Portugal-based renewable energy company and a subsidiary of EDP, focused on wind, solar and battery storage generation across multiple continents.
EDP
A Portuguese multinational energy utility and the parent company of EDP Renewables, which acquired the Brazilian operations through one of its subsidiaries.
The details
EDP Renewables completed asset rotation transactions involving renewable portfolios in the United States, Poland, Greece and Italy, alongside the sale of its Brazilian operations, which included a 1.7 GW wind and solar portfolio. Electricity generation rose 2% to 30.9 TWh, driven by a 9% increase in North American output to roughly 19 TWh, while European production fell 7% after disposals reduced installed capacity.
Timeline
January to September 2026: Nine-month reporting period covered by the results.
End of September 2026: Installed capacity reached 20.5 GW with 1.8 GW under construction.
October 28, 2026: Sale of Brazilian operations to an EDP subsidiary for €990 million was completed.
Market Dynamics
The results illustrate the asset rotation strategy EDP Renewables has pursued, in which it sells completed portfolios to fund new projects and lift reported earnings. The company's roughly 4% underlying EBITDA growth suggests that much of the headline improvement came from divestments rather than operations.
Investors comparing EDP Renewables' reported results should separate asset sale gains from recurring operating earnings, since the €333 million in divestment gains accounts for a large share of the profit increase. The €8.35 billion net debt level is a relevant figure for anyone assessing the company's balance sheet.
The takeaway
Reported profit growth at renewable energy companies can be driven heavily by asset sales, so underlying operating metrics such as EBITDA excluding divestment gains offer a clearer view of performance.
Further reading
For broader context on how companies report divestment gains, see Corporate Finance.
