EDP Shares Give Exposure to Renewables and a Juicy Dividend Yield
EDP is the European integrated utility with the largest weight of renewables, accounting for 60% of the group's EBITDA. They consist of EDP Renovaveis’ wind and solar assets chiefly located in the United States and Iberia and EDP’s hydropower assets in Iberia and Brazil. Renewables are the main growth driver due to the commissioning of new capacity. As the fourth-largest renewables player in the US through EDP Renovaveis, EDP is well positioned to benefit from the extension of production tax credits planned by the extension of the Inflation Reduction Act.