The best performer in Europe’s turbulent utilities industry is a little-known Portuguese renewables company whose media-shy chief executive has won the confidence of investors in an unpredictable industry. EDP Renovaveis SA is a serial wind farm developer, bidding for land, licences and power purchasing agreements, raising finance, buying and installing turbines, connecting them to the grid and selling power to utilities. Wind power relies on fickle state support, turbine technology changes quickly, local opposition often blocks development and connecting turbines to the grid requires dealing with lots of red tape. Despite such challenges, EDPR has built a record for reliability, developing a strong relationship with private equity and expanding in North America to become the world’s fourth-largest wind player with installed capacity of 9.7 gigawatts.
Reuters 28th Oct 2016 read more »