EDP plans EUR-2.5bn investment in DG solar globally

Portuguese utility Energias de Portugal SA (ELI:EDP) on Wednesday pledged to invest EUR 2.5 billion (USD 2.7bn) by 2026 to install 4 GWp of distributed generation (DG) solar projects worldwide.

The systems will be implemented either behind or in front of the meter, for families and businesses, the company said in a statement.

At present, EDP has 1.6 GWp of installed DG capacity across Europe, the Asia Pacific (APAC), North America and Brazil.

In both Europe and the US, EDP’s DG solar capacity is expected to grow around five times in the next three years through key corporate partnerships such as the existing ones with Navigator, Google and Lufthansa.

The company estimates it will increase its DG solar capacity threefold by 2026 in the APAC region, while the biggest jump is planned for Brazil where EDP anticipates it will grow six times from the current 205 MW it has in operation and under construction.

"This business segment can efficiently provide significant energy cost savings for our clients as it entails shorter permitting and development times and faster payback as compared to the larger utility-scale renewables projects, while also addressing our clients’ growing energy independence aspirations," explained Miguel Stilwell d’Andrade, CEO of EDP.

(EUR 1.0 = USD 1.093)

Choose your newsletter by Renewables Now. Join for free!