EDP Renewables (EDPR)

Euronext Lisbon: EDPR80Climate Leader· Provisional

0 followersOffshore wind development·Lisbon, Portugal

www.edpr.com

Listed subsidiary of EDP and one of Europe's largest renewable energy companies, developing offshore wind capacity in France, Portugal, and the UK including the Moray West project in Scotland.

80/100

Climate Leader· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: lowData confidence: high

Why it's on ClimateTicker

EDPR is a genuinely pure-play renewable energy developer whose core business — building and operating wind and solar assets — directly displaces fossil-fuel generation and avoids significant CO2 emissions at scale. Its parent EDP holds SBTi-validated targets aligned to 1.5°C and an A-rated CDP disclosure, lending credibility to stated ambitions, though the removal of prior near-term SBTi targets for the subsidiary, rising Scope 3 supply-chain emissions, and project-level execution risks (offshore cost overruns, Colombia exit) introduce meaningful caveats. The gap between marketing and verifiable impact is relatively narrow for a company of this type, but investors should monitor the tax investigation, offshore delivery risk, and whether the net-zero 2040 plan is backed by annually verified interim milestones.

mitigationEDPR develops, constructs, owns, and operates wind (onshore and offshore via the Ocean Winds JV with ENGIE) and utility-scale solar farms across 28 markets, generating revenue primarily through long-term power purchase agreements and regulated tariffs that provide contracted cash flows to finance pipeline growth.

Commitments & Certifications

1.5C: Signatory — UN Business Ambition for 1.5°C (since 2019) ↗CDP: A (Leadership) — Climate Change and Water Security ↗SBTi: Targets validated — Net Zero Standard (2030 & 2040) ↗

Controversy & Greenwashing Watch

lowRising Scope 3 supply-chain emissions

EDPR's total reported emissions jumped from ~2.4 billion kg CO2e in 2023 to ~3.2 billion kg CO2e in 2024, driven by capital-goods procurement, highlighting that rapid build-out carries a large embedded carbon cost that is not yet fully mitigated.source ↗

medium2024 guidance downgrade and -45% TSR

In May 2024, EDPR materially cut its 2024–2026 capacity addition, EBITDA, and net profit guidance, contributing to a 45% shareholder value destruction and flagging offshore execution and US policy risks.source ↗

lowColombia wind project exit — 0.5 GW abandoned

EDPR exited 500 MW of contracted Colombian wind projects in 2024 due to economic non-viability after COVID delays, a change in government, and licensing failures, raising questions about development-stage risk management.source ↗

mediumTax investigation — Portuguese hydro asset sale

An ongoing investigation concerns the tax treatment of EDP's 2020 sale of a Portuguese hydro portfolio to an ENGIE-led consortium; EDP contests the matter and states it met all legal requirements.source ↗

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