The EDP Group plans to invest in renewable energies in Brazil. The company will invest BRL 10 billion in solar energy and wind energy to expand its portfolio in the country

One of the largest renewable energy groups in the world, EDP, signed with the Ministry of Mines and Energy (MME) its intention to invest around R$ 10 billion, until 2025, to produce solar energy and wind energy in Brazil. Of this total, R$ 3 billion will be allocated to the wind solar energy sector, R$ 6 billion will be allocated to distribution, and the rest to transmission. This will be EDP's biggest investment in renewable energies in the country.

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EDP ​​will reach 1GWp in solar energy

The company claims that the investment in the solar source will be carried out through EDP Brasil, and its main objective is to make the size of the company's solar energy park in the country expand by 20 times compared to 2020, reaching an installed capacity of 1 GWp.

The company's investments in solar energy include ventures in distributed generation and also in centralized generation. The investments applied in wind energy will be carried out through EDP Renováveis, another company of the group. EDP's renewable energy investment plan in Brazil was the main topic of the meeting between Migue Stilwell d'Andrade, the group's global CEO, and Bento Albuquerque, minister of the Ministry of Mines and Energy.

The meeting took place last week in Lisbon, Portugal. The meeting was also attended by Miguel Setas, executive director of Networks at the EDP Group, and also by the Director of Marketing, Communication and Stakeholders at EDP Brasil, Nuno Rebelo de Souza.

EDP ​​is investing in other renewable energy sources

Last year, the company concluded the first phase of its BEHYOND project, in consortium with CEiiA, WavEC and other entities. The project aims to produce green hydrogen through offshore wind energy.

In this first phase, an analysis of several configurations was developed for an offshore green hydrogen production module, where the production process is done using electricity that is generated through offshore wind farms. According to the company, this type of wind source should expand by the beginning of the next decade, and the project proves that there is a great advantage in producing renewable energy in the same place.

Get to know the EDP Group

Operating in the market for over 25 years, the EDP Group is the holder of generation, transmission and distribution assets in the country, being the leader when it comes to sustainability on the São Paulo Stock Exchange.

In the last year alone, the company reached a net profit of R$ 2,2 billion, reaching its highest performance and reaching an increase of 43% compared to the previous year. In addition to Brazil, the company, which is from Portugal, operates in 27 other countries, since 1997 comprising Euronext Lisbon, the Lisbon stock exchange. In addition, it is also part of the Dow Jones Sustainability Index.