EDP‘s renewable energy operation, EDP Renováveis, saw its profits rise by 12% in the first half of 2012 from the same period a year ago, said the earnings statement sent Wednesday, 25 July, to the stock market regulator CMVM.

EDP Renováveis posted a €100m net profit for the period between January and June, from €90m in the same period in 2011.

EDPR registered a 23% rise in its EBITDA, from €409m to €504m.

The positive performance was due to the 13% increase in electricity output to 10TWh and a 10% rise in the average selling price to €61.4/MWh.

Hence, revenues grew by 23%, said the statement.