EDPR anticipates 2025 financial targets and ramps up investment in the energy transition
Thursday 2, March 2023
2
min read
This article has more than 6 months
- €25 Bn investment plan: €21 Bn focused on Renewables and €4 Bn focused on electricity networks, representing an annual gross investment of ~€6.2 Bn – 30% higher versus the previous Business Plan.
- Renewables deployment to increase to 4.5 GW per year, totalling 18 GW gross additions by 2026 aiming to a renewable installed capacity of 33 GW by 2026 and with the ambition to reach more than 50 GW by 2030.
- Renewables investments diversified by technologies including Wind Onshore (40%), Solar PV Utility Scale (40%), Solar Distributed Generation (12%), Wind Offshore (5%) and Storage & Hydrogen (3%).
- We are leveraging our superior portfolio and infrastructure as a competitive advantage for increased renewables deployment based on hybridization and repowering.
- €3Bn investment in digitalization and innovation to foster efficiency and sustainable growth.
- Reiterated commitment to be coal-free by 2025, 100% renewables generation by 2030 with a Net Zero emissions target by 2040 (SBTi approved).
- Future-proof organization creating 3000 new jobs by 2026 and communities’ empowerment through a €200m investment in social impact initiatives.
- Reiteration of BBB credit rating commitment, FFO/Net Debt of 21% in 2026.
- Recurring EBITDA of €5.7 billion by 2026, with a 6% CAGR in 2022-26.
- Recurring net income €1.4-€1.5 billion by 2026, with 12%-14% CAGR 2022-26.
- New dividend policy, with target payout ratio between 60-70% and an increase in dividend floor to €0.20 per share in 2026.
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