Shared remote DG consolidates itself as EDP's focus in 2022

Last year, the company also recorded EBITDA of R$ 5.3 billion and net profit of R$ 1 billion
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28-02-23-canal-solar-GD remota compartilhada se consolida como foco da EDP em 2022
EDP aims for 1 GW of solar generation in Brazil by 2025. Photo: Envato Elements

A EDP, a company that operates in all business areas of the Brazilian electricity sector, recorded in 2022 a EBITDA (profit before fees, taxes, depreciation and amortization) of R$ 5.3 billion, an increase of 22% compared to 2021.

O net profit reported was R$ 1 billion, reflecting the recognition of the impairment of R$ 1.2 billion in Pecém, “a fact already communicated in a timely manner and which will not impact the company’s ability to generate cash, pay debts or financial obligations and comply with the dividend policy”.

In the growth strategy in solar energy, the shared remote distributed generation has consolidated itself as EDP's focus in this segment due to its advances and results.

The company has developed a business model to implement solar farms that contributes to bringing clean energy and savings to small and medium-sized companies. “With the positive response from the market, the objective is to expand the production units to the regions served in 2023.

Also in 2022, EDP announced a new large-scale photovoltaic project with a capacity of 255 MWac and expected to come into operation in 2024. With these actions, it ended the year with around 450 MWac in its portfolio, a significant advance towards to the target of 1 GW of solar generation in Brazil by 2025.

Distribution

In distribution, the year was marked by increased investments, which resulted in the addition of 10 new substations to the company's concession areas in São Paulo and Espírito Santo.

In order to implement its strategy of having a more balanced generation portfolio, that is, with less exposure to hydrological risks, the company sold the Mascarenhas Plant.

According to the national ranking of ANEEL (National Electric Energy Agency), the two best generators in the country are from EDP – Enerpeixe and Lajeado. In financial terms, the year was marked by the restructuring of Pecém's debt at competitive market rates.

Additionally, the Ceará plant was a pioneer in producing the first green hydrogen molecule in Latin America, through an R&D (Research and Development) project.

Streaming

In a broadcast, the company stated that the acquisition of EDP Goiás was completed in record time. In less than 100 days, the transition process was completed, allowing the integration of the asset's 100% into EDP's systems.

The early delivery of transmission lots was maintained in 2022 with the completion of works in several states. The energization of the lines represents 90% of the portfolio's total RAP.

In the last quarter, the company also made progress with a new investment, winning lot 2 of the last auction held by ANEEL. Located in Rondônia, this is EDP's second project in the state, a 188 km long line that will connect the cities of Porto Velho to Abunã.

“It is with great pride that I present the results generated by EDP in 2022. Our deliveries are coherent, solid and fully compliant with our Business Plan to generate value”, highlighted João Marques da Cruz, CEO of EDP Brasil.

“Excellence in execution and operational efficiency allowed us to achieve significant achievements in each of our areas of activity. For all of this, I thank the almost 12 thousand people who build EDP every day and I am confident that 2023 will be a challenging and relevant year for our growth strategy, which is always based on sustainability and excellence”, he concluded.

Picture of Mateus Badra
Mateus Badra
Journalist graduated from PUC-Campinas. He worked as a producer, reporter and presenter on TV Bandeirantes and Metro Jornal. Has been following the Brazilian electricity sector since 2020.

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