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Texas Freeze Cost EDP ‘Low Tens of Millions’ of Dollars

  • Utility says two wind projects took financial hit from storm
  • EDP says it might not winterize to mitigate future freezes
Turbines stand at a wind farm.

Photographer: Matthew Staver/Bloomberg

Updated on

Portuguese utility EDP-Energias de Portugal SA is among the wind-farm owners that took a hit from the deep freeze that upended Texas last month.

The financial impact was in the low tens of millions of dollars, Chief Executive Officer Miguel Stilwell Andrade said in an interview. That’s a relatively modest hit compared to some other wind producers that racked up hundreds of millions in losses, he said.