EDP to install 100 MW of solar at Faurecia sites

Portuguese electric utility EDP - Energias de Portugal SA (ELI:EDP) has clinched a deal to install up to 100 MWp of solar panels at sites of French automotive parts maker Faurecia SE (EPA:EO) across a number of countries around the world.

Under the partnership, more than 60 self-consumption solar parks will pop up at Faurecia’s locations in Portugal, Spain, Italy, the US, China, South Korea, Japan and Thailand, helping the car parts manufacturer reduce its dependence on the grid and its carbon emissions. The arrays are expected to be installed by the end of 2023.

The agreement uses an as-a-service model -- EDP will invest in the solar panels and operate and maintain them under long-term contracts aligned to each specific market.

This is EDP’s largest distributed solar energy project so far and the first with a single partner spanning several continents.

Distributed solar energy is a strategic area for EDP and the group has been expanding in this segment through organic growth and acquisitions. It aims to install more than 2 GW in homes and businesses by 2025.

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