EDP Energias de Portugal S A : Credit Investors Presentation - Nov 21

Credit Investors Presentation

Lisbon, November 2021

We have started this journey in Renewables over 2 decades ago and are committed to continue to lead the Energy Transition

By 2025

By 2030

	€24 Bn	>50 GW
	CAPEX in energy transition	renewables additions
Leading the energy transition to
create superior value	4 GW/yr	100%
	renewables deployed	renewables generation

Double 100%

solar+wind installed capacity

energy transition EBITDA

Coal free

Carbon neutral

We will grow our presence across technologies, with differentiating value propositions

Global leadership

Top 4 global player

Differentiation

Capture repowering, hybridization, and technological developments

Wind onshore

9.1

20 GW1

								Strong visibility
								Extensive pipeline with additions
								ramping up quickly
Solar					Cost competitiveness
								Focus on procurement synergies
								and scale

8.0

(40%)

Hydro

Mostly maintenance investments

Cash generator

Manage portfolio for efficiency and value capture

Flexibility provider

Future growth

Long-term opportunity with medium- term value crystallization

Diversified risk

Leveraging scale and risk diversification through Ocean Winds (50/50 JV with Engie)

(46%)Gross

additions

2021-25

0.9 0.4 1.47%

(5%) (2%)

Wind offshore

Storage

Differentiation

Leverage distinctive go-to-market capabilities

Solar DG

Capture flexibility value

Further develop existing capabilities to meet increasing flexibility needs

Mature technology, with unique flexibility capacity through pumping capabilities (2.4 GW)

Renewable H2

New route to market

Leverage existing capabilities to capture new growth

1. EBITDA + Equity GWs

Investor presentation

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We have +8.1 GW capacity additions secured (41%) evenly split per geography

North America	3.2
GW
36% secured

1.5 GW 1.6 GW 0.2 GW

post 2025

LatAm	1.9
	GW
66% secured

1.6 GW 0.3 GW

1. EBITDA + Equity GW

6.7

8.8 20 GW1

Gross Additions

2021-25

1.4

2.9

GW

secured

Europe	2.3
	GW
34% secured

1.4 GW 0.7 GW 0.3 GW

0.5 GW

post 2025

APAC	0.7
50% Secured	GW

0.7 GW

Investor presentation

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We will deliver unparalleled investment levels fully aligned with the energy transition

Significant investment	… with strong focus on Renewables, across key
acceleration…	markets in Europe and North America

CAPEX1, € Bn/yr		CAPEX1, Cumulative, € Bn, 2021-25
+65%	4.8		~80%
		Renewables
			~15%
			Networks	~€24 Bn
2.9			~€24 Bn
			~5%
			Client solutions &
			Energy mgmt2
		€21 Bn	€3 Bn	~80%

2019-22	2021-25	expansion CAPEX, 95%	maintenance CAPEX, mostly	CAPEX in Europe and North
target	target	in Renewables	in Networks	America

~40%

Europe

~40%

North America3

~15%

Brazil and LatAm

~5%

Rest of the world

1. Includes financial investments
2. Includes other and holding CAPEX

3. US, Canada, and Mexico

Investor presentation

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