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EDP - Energias de Portugal SA EDP Stock Quote

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Morningstar‘s Stock Analysis EDP

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Capital Allocation


Buying Undervalued EDP Shares Allows Investors to Get EDP Renovaveis at a Discount

Tancrede Fulop, CFA Senior Equity Analyst

Business Strategy and Outlook

| Tancrede Fulop, CFA |

EDP is the European utility with the second-largest weight of renewables (behind Orsted), accounting for two thirds of the group's EBITDA. They consist of EDP Renovaveis’ wind and solar assets chiefly located in the United States and Iberia and EDP’s hydro assets in Iberia and Brazil. Renewables are the main growth driver in our estimates due to the commissioning of new capacity and capital gains from asset rotations. EDP plans to install 12.5 GW of net capacity by 2025 or 2.5 GW per year, still less than 4 GW-6 GW planned by Enel, Iberdrola, or Engie but almost 3 times as much as 0.9 GW of the previous 2019-22 business plan. As the third-largest renewables player in the U.S. through EDP Renovaveis, EDP is well positioned to benefit from the extension of production tax credits planned by the extension of the Inflation Reduction Act.

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Key Statistics EDP

Company Profile EDP

Business Description

EDP is a vertically integrated utility company and is the largest generator, supplier, and distributor of electricity in Portugal. In addition to Portugal, EDP has sizable operations in Spain, Brazil, and the U.S. EDP owns 82.6% of EDP Renovaveis, the third-largest wind power owner/operator in the world. EDP also owns 51% of Energias do Brasil, an electric utility that serves a population of almost 8 million.

Avendia 24 de Julho, No. 12, 4th Floor
Lisboa, 1249-300, Portugal
T +351 210012500
Industry Utilities - Diversified
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 12,992