EDP, a company that operates in all segments of the Brazilian electricity sector, announced that it concluded nine energy solution initiatives in 2020 and ended the year with 65,3 MWp of solar in its portfolio.
The company has already delivered 34,5 MWp in photovoltaic projects to clients – including Banco do Brasil, TIM, Claro, and Johnson & Johnson – and has 30,8 MWp under development.
In December, EDP signed an investment agreement in Blue Sol with the aim of acquiring a stake of up to 40% in the company, which operates in the B2C solar photovoltaic generation segment.
EDP records increase in profit
The company also announced that it obtained the best result in its history for the third year in a row. In total, net profit was R$1,5 billion in 2020, an increase of 12,7% compared to 2019.
EBITDA (profit before fees, taxes, depreciation and amortization) totaled R$3,4 billion, an increase of 16% compared to the previous year.
Investments
In 2020, the company invested R$1,9 billion in Brazil, with emphasis on the distribution segment, which received R$752 million for network improvements and expansion – an increase of 16,2% compared to 2019.
Since 2016, it has invested R$3,3 billion in transmission works and projects, representing 80% of total Capex execution.
By the end of this year, EDP announced that R$4,1 billion will be spent on the construction of more than 1,5 kilometers of lines and six substations in the states of Santa Catarina, Rio Grande do Sul, São Paulo, Minas Gerais , Maranhão and Espírito Santo.
EDP announces new CEO in Brazil
In a meeting held last Friday (19), the company confirmed the name of João Marques da Cruz as its new CEO. The executive has nine years of experience as a member of the Executive Board of Directors of EDP Global, working in the distribution, transmission, commercialization, renewable energy and free market segments.
He assumes the position after the appointment of Miguel Setas as responsible for the EDP group's global transmission and distribution network platform, after seven years as CEO.
“It is an honor and a great responsibility to assume the presidency of EDP in Brazil, a priority geography in the company's strategy. We have great potential to explore, especially on the distributed solar generation front. I hope to add knowledge to continue achieving successful results and fulfilling the purpose of being a leading company in the energy transition in the country”, said Marques da Cruz.
