Portugal's EDP reports robust profit growth driven by hydroelectric recovery in Brazil unit

 

 

Portugal's largest utility company, EDP, has reported a significant surge in profits by 83%, supported by the recovery of its hydropower operations in Brazil. The company's net profit for the year 2023 reached €923 million ($1.07 billion), primarily due to the increased production and higher electricity prices in Brazil. EDP's strong performance in Brazil offset the impact of weaker earnings from its European business operations. 

 

The recovery of EDP's hydropower operations in Brazil can be attributed to favorable weather conditions, which allowed for increased hydroelectricity production. This boost in renewable energy generation aligns with Portugal's commitment to transitioning towards a sustainable and low-carbon economy. EDP's success in Brazil enhances its position as a leading player in the global renewable energy market.

 

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In conclusion, Portugal's EDP has experienced substantial profit growth, fueled by the recovery of its hydropower operations in Brazil. This success aligns with Portugal's green energy aspirations and demonstrates the country's commitment to renewable energy. Additionally, the promotion of the Daxtromn Power 2XMPPT 140A/160A On-Grid/Off-Grid 10KW/10.2KW Pure Sine Wave Inverter with Charger DC 48V 230VAC Dual PV Input A+2 Output 100000W showcases an advanced renewable energy solution that prioritizes solar energy usage and offers remote configuration and monitoring capabilities. These developments contribute to creating a more sustainable future.