EDP ​​plans to invest 640 million euros in energy transition projects

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(dr) Galp

EDP ​​plans to invest 640 million euros in projects that contribute to the energy transition in Portugal, over the next five years, of which nearly 150 million are advanced this year, the official source of the electricity company told Lusa.

“EDP plans to invest 640 million euros in projects that will contribute to the design of the energy transition in Portugal, over the next five years”, announced an official source at EDP.

Of this investment, he said, close to 150 million euros will advance this year.

This investment is part of the strategic plan presented to the market in February, which foresees 24 billion euros for the energy transition by 2025, of which 19,200 million euros (80%) in renewable energy by 2025, which includes wind, solar, green hydrogen and energy storage technologies.

“This growth is only achieved thanks to this ambitious strategy and that would not be possible without a normal asset rotation”, said the company, which has an asset rotation strategy totaling 8,000 million euros, under which it was recently announced the sale of wind assets in the United States.

EDP ​​also pointed out that this investment of 640 million euros will correspond to a increase in excess of 700 megawatts (MW) distributed across 23 clean generation projects across the country.

Among the projects already approved and under development, EDP highlights the package of five projects that combine solar and wind energy, totaling 30 MW and with an associated investment of 16 million euros, whose construction is scheduled to start this year, in Sabugal, Aljezur, Peniche and Loures.

The company also highlighted the 142 MW Solar Cerca project, which comes from the solar auction held in 2019 and which should start construction in 2022, in Ribatejo, with an investment of 93 million euros, as well as the park project floating solar with more than 12,000 photovoltaic panels in the Alqueva dam reservoir, with an investment of six million euros and annual production capacity of seven gigawatt-hours.

The Alqueva project has the installation of panels and floats scheduled for the summer, and it is expected that it will start producing energy this year.