EDP-Energias de Portugal, S.A. reported a net profit drop of 20% year-on-year to EUR 748 million (USD 1.1 billion) for the first nine months of 2009. The decrease is explained with the lack of extraordinary gains. In the same period of the previous year EDP gained EUR 405 million with the initial public offering of its green energy arm EDP Renovaveis. Excluding the effect of the extraordinary items a year ago, the profit for January to September 2009 showed an annual rise of 9% to EUR 780 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) went up by 2.4% to EUR 2.427 billion, as a result of a costs control programme. The operating revenue, however, fell by 13.71% to EUR 8.85 billion, due to a decline in the turnover from the distribution and gas areas, and Brazilian subsidiary EDP - Energias do Brasil.

EDP-Energias de Portugal, S.A. provides earnings guidance for the third quarter of 2009. The net profit of the company is expected to stand at EUR 230.2 million (USD 340.5 million) in the third quarter of 2009, down from the EUR 237.1 million booked a year ago.

Energias de Portugal will put into operation a 90 megawatt (MW) wind farm in southeastern Romania by the middle of 2010, following a €100 million ($150 million) investment. Last year EDP acquired through its the renewable power unit, EDP Renovaveis (EDPR), a 85% stake in Romanian wind power companies Renovatio Power and Cernavoda Power for a combined €8.4 million. The two Romanian companies are developing wind power projects with total capacity of 736 MW. Romania plans to increase the installed capacity at its wind farms to 200 megawatts by the end of 2010 from some eight megawatts at the beginning of this year.