EDW EDP Renovaveis SA

EDP Renewables North America commits $300,000 to help communities address COVID-19

EDP Renewables North America commits $300,000 to help communities address COVID-19

The company has set up initiatives around more than 50 renewable energy projects to help local communities combat the pandemic

Houston, TX, April 14, 2020 (GLOBE NEWSWIRE) -- EDP Renewables North America (EDPR NA) has announced a commitment of $300,000 to help communities around the company’s wind farms and solar parks cope with the coronavirus pandemic. The funds are being allocated to local nonprofit organizations focused on serving residents in more than 50 communities where EDPR NA has a project in operation, under construction, or in development throughout the United States, Canada, and Mexico.

“EDP Renewables’ number one priority is the health and safety of our employees and the communities where we have projects,” said Miguel Prado, EDPR NA CEO. “Our long-term presence and strong relationships in the rural communities hosting our projects gives us a unique opportunity to aid the most-effective organizations in areas that are often the last to get the resources and support they need.”

In order to determine where to target funding in response to the COVID-19 pandemic, EDPR NA consulted local staff members and residents around its renewable energy projects. Many communities where EDPR NA operates do not have local healthcare facilities so the majority of the funding will be contributed to local food banks and organizations that provide economic security for families affected by COVID-19. The company is also listening to local stakeholders and directing funds to the organizations that need resources the most, including those providing healthcare or other vital services in response to the pandemic. 

“With workers getting laid off, students losing access to free lunch programs, and elderly populations being quarantined and unable to purchase groceries, the need for food and economic security is felt in all communities,” explained Prado. “While nobody knows for sure how long COVID-19 will be in the communities where EDPR NA has projects, we do know that the economic impact of the pandemic is already being felt and will likely persist for months as the ramifications of social distancing ripple through our economy. As EDPR NA considers ourselves members of these communities, we want to help in this time of need.”

EDPR NA’s wind farms and solar parks continue to operate, providing a vital power supply to homes, hospitals, grocery stores, and other businesses during the pandemic. In addition to the $300,000 in social investments around project communities, the company is also launching an employee matching gift campaign at its corporate offices as well as providing training and materials for employees to create face masks.

The $300,000 commitment in North America is part of a global effort for the company. EDPR NA’s parent company, EDP Renewables (EDPR), a leader in the renewable energy sector and one of the world’s top wind energy producers and present in 14 countries, announced on Tuesday, April 7, that it will donate a total of €750,000 to COVID-19 relief efforts. This contribution by EDP Renewables is part of more than €5 million distributed throughout the world by EDP Group, the principal shareholder of EDP Renewables.

EDPR’s aid will be dispersed in 12 countries (Belgium, Brazil, Colombia, Spain, the U.S., Canada, Mexico, France, Greece, Italy, Poland, and Romania) and will include donations to food banks, purchases of healthcare equipment, medical devices, and rapid testing kits, and the facilitation of online learning and digital educational materials. Each market carried out a study of its needs to ensure the most effective use of this aid.

 

About EDP Renewables North America (EDPR NA)

EDP Renewables North America LLC (EDPR NA) and its subsidiaries develop, construct, own, and operate wind farms and solar parks throughout North America. Headquartered in Houston, Texas, with 52 wind farms, eight solar parks, and eight regional and development offices across North America, EDPR NA has developed more than 7,300 megawatts (MW) and operates more than 7,000 MW of renewable energy projects. EDPR NA is owned by EDP Renováveis, S.A. (EDPR). For more information, visit .

 

About EDP Renewables (EDPR)

EDP Renewables (Euronext: EDPR) is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 14 international markets (Belgium, Brazil, Canada, Colombia, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain, the UK and the US). For further information, visit .

Blair Matocha, Senior Manager Communications
EDP Renewables
713-356-2415
 
EN
14/04/2020

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on EDP Renovaveis SA

Bruno Cavalier ... (+4)
  • Bruno Cavalier
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/03/2024

After very strong results during 2021 and 2022 on the back of industry tailwinds due to supply chain disruptions, IMCD maintained a relatively steady operating performance over 2023 despite a clear normalisation of end-market demand within Industries. Notwithstanding these industry pressures, IMCD was able to offset the negative organic growth over 2023 (-6.4%) with its acquisitory power, stabilising growth for the year (excl. FX impact). We believe that IMCD is ready to resume its up...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

EDP Renovaveis : A road show that leads us to adjust our model

>Neutral rating maintained, 2024-2026 EPS lowered and target price adjusted to € 17.0 - We took the opportunity of a road show in Paris with the CFO and investor relations team to adjust our model and fine-tune our 2024-2026 in order to factor in the latest elements related to this trajectory. As the group mentioned at the 2023 earnings publication, the 2024 guidance is based on production of 40-42 TWh and an average captured price of € 53-55/MWh. For 2025 and 2026, w...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

EDP Renovaveis : Un roadshow qui nous amène à ajuster notre modèle

>Opinion Neutre maintenue, BPA 2024-2026 révisés en baisse et OC ajusté à 17.0 € - Nous avons profité d’un roadshow à Paris avec le directeur financier et l’équipe de relations Investisseurs, pour ajuster notre modèle et affiner nos estimations 2024-2026 afin de prendre en compte les derniers éléments relatifs à cette trajectoire. Comme le groupe l’a mentionné lors de la publication des résultats 2023, la guidance 2024 est fondée sur une production comprise entre 40 T...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch