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Portugal’s EDP Group targets energy storage, green hydrogen with new business units

February 23, 2021

Energy Global:

The EDP Group has strengthened its commitment to decarbonisation by launching two units that will exploit the potential of green hydrogen and energy storage systems. The H2 Business Unit (H2BU) will be the Group’s new arm for the development of green hydrogen projects, while the dedicated storage unit, built in EDPR North America, will aim to achieve a storage capacity of 1 GW within five years.

The green hydrogen market represents one of the growth axes for EDP, the result of not only the decarbonisation objectives, but also of the cost reduction that has been achieved and is expected to achieve competitiveness over the course of this decade. As a leader in the energy transition, EDP efficiently and dynamically supports the decarbonisation of all sectors of the economy.

With the creation of the new business unit, EDP aims to strengthen the integration of green hydrogen into the Group’s portfolio in a strategic and cross-cutting way and promote investment in renewables. H2BU will be led by Ana Quelhas, director of Energy Planning of the EDP Group.

In strengthening its crucial role in the energy transition, EDP Renováveis (EDPR) has created a new business unit dedicated to the development of energy storage technologies. This unit, which will be associated with EDPR’s operation in the US, will focus on the analysis of storage technology, and is another step in EDP’s commitment to innovation in clean energy generation.

The creation of this unit comes to give shape to EDP’s plan in the US, called ‘Re-charge,’ which aims to achieve 1 GW in energy storage projects by 2026.

[Sarah Smith]

More: EDP launches green hydrogen and energy storage business units

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