October 19, 2021 Read More →

EDP plans to invest $13 billion in UK wind and solar projects by 2030

Reuters:

Power distribution company WEL Networks and renewables developer Infratec are in the final stages of assessment for what will be New Zealand’s first utility-scale battery energy storage Power company Energias de Portugal (EDP.LS) (EDP) plans to invest 12.86 billion pounds ($17.65 billion) in wind and solar projects in Britain by 2030 as the country strives to lower its emissions to net zero by mid-century.

EDP plans to invest via its subsidiary EDP Renovaveis (EDPR) (EDPR.LS), the world’s fourth largest renewable energy producer, which has 1 gigawatt (GW) of offshore wind capacity under construction and 0.9 GW under development in Britain.

EDP’s largest wind investments are in the U.S. market but the company wants to explore further opportunities which allow it to play a leading role in the UK’s energy transition.

“The UK is a core market for us. We like it because it is stable, predictable and there is a long term vision,” Miguel Stilwell d’Andrade, chief executive of EDP and EDPR, told Reuters in an interview in London.

[Nina Chestney and Marwa Rashad]

More: Portugal’s EDP to invest up to 13 bln stg in UK wind and solar by 2030

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