UPDATE 1-Portugal’s EDP Renovaveis forecasts pick-up in earnings growth

Page created: Wednesday, 1 March 2017 8:49 GMT

average  company EDP Renovaveis  Forecast  Portuguese  Windpower

LISBON, Feb 28 Portuguese windpower company EDP Renovaveis(EDPR) expects pretax earnings growth to accelerate to 10 percent this year, it said on Tuesday after reporting weaker than expected 3 percent growth for 2016.

The world’s fourth-largest wind-generated electricity producer attributed its forecast to increased capacity and technical innovation and expectation that its largest single market, the United States, will remain strong under President Donald Trump’s administration.

However, it forecast the average selling price to slip again to about 58 euros per megawatt-hour from 2016’s 61 euros.