EDP to back sustainable energy businesses in developing countries

Portuguese utility EDP (ELI:EDP) announced today it will invest EUR 12 million (USD 14.4m) in promoting universal access to sustainable energy in developing countries over the next three years.

The group’s investment will be directed towards "existing and promising" companies, mainly in East Africa, with sustainable solutions for energy access. EDP expects 200,000 people to benefit from this plan. In addition, it will spend EUR 1 million on social responsibility activities.

Initially formed as part of the EDP Foundation, the access to energy (A2E) area is now seen as an activity closely related to the company's core business, EDP noted. The company has invested some EUR 5 million in A2E projects since 2009, directly impacting 20,000 people.

(EUR 1 = USD 1.20)

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