EDPR plans four gigawatts of project volume annually through 2026
Post date: 06/03/2023 - 17:22
EDP Renováveis (EDP Renewables, EDPR), the renewable energy subsidiary of Portuguese utility Energias de Portugal (EDP), has revised its business plan for the coming years. As part of a reformulation of the parent company's strategic goals, EDPR aims to install a total of 17 gigawatts (GW) of new capacity by the end of 2026, or more than 4 GW per year. Solar and wind power plants will each account for 40 percent of this volume, while the remaining 20 percent will be in technologies such as storage and hydrogen, as well as small, decentralized solar systems.
EDPR plans to invest 20 billion euros in this. The company plans to focus its expansion strategy on low-risk markets, installing 7.4 GW of capacity in North America, 5.6 GW in Europe, 2.2 GW in South America and 1.2 GW in Asia-Pacific; 0.7 GW will be offshore. By 2026, EDPR is targeting earnings before interest, taxes, depreciation and amortization of three billion euros and a net profit of 900 million euros.