EDP has a large wind power business in the United States, which accounts for more than a quarter of its installed renewable capacity globally.

Last week, U.S. Energy Secretary Dan Brouillette told Reuters the United States would like to see EDP expanding in the U.S. market, but Chinese investment in the company could pose risks that need to be evaluated.

State-run China Three Gorges is EDP's largest single shareholder with a 23% stake.

But CEO Antonio Mexia said EDP was confident the U.S. scrutiny will not affect its expansion there after 10 billion euros in investment in north America.

"It is a priority market ... we are aware of all our commitments in the United States and we are confident that the conditions are there for our growth there not to be affected," he said, adding:

"EDP is an important player in the United States, it is an important market for EDP, but EDP is also important for the development of renewables in the American market".

"It was a year of good performance and (we showed) capacity to deliver on the commitments in our strategic plan. The results were only possible thanks to our bet on renewable energy and internationalization," Mexia said.

EDP's recurring net profit last year rose 7% and earnings before interest taxes, depreciation and amortization (EBITDA) rose 12% to 3.71 billion euros.

Still, overall net profit slipped 1% to 512 million euros ($553 million) on a one-off provision linked the Fridao hydroelectric project, as well as by a 297 million euro impairment booked on coal plants in Iberia.

EDP ??said that conventional operations in Portugal had a loss of 98 million euros after a 18 million loss in 2018, "penalized by a continued adverse regulatory and fiscal context, which was exacerbated in 2019 by abnormally low hydro production".

(Writing by Andrei Khalip; Editing by Christina Fincher)

By Sergio Goncalves