Iren SpA: Heavier Leverage, Fewer Renewables Than EDP
Source: SeekingAlpha
2025-03-25 16:43:48 ET
Summary
- Iren saw benefits from a new regulatory period in 2024 with better regulatory parameters in line with a dramatically new cost of capital situation.
- Energy suffered from lower electricity prices and lower ancillary business that got extreme, with Italians all rushing to take advantage of ECOBONUS.
- Valuation is similar to EDP, but EDP has no gas exposure on cost side and already hedged political risk with mostly renewable generation. So we prefer EDP.
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Iren SpA: Heavier Leverage, Fewer Renewables Than EDP
Iren Spa
NASDAQ: IRDEF
IRDEF Trading
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