EDP Group, the Fourth Largest in Renewable Energy in the World, Plans to Invest R$ 10 Billion in Solar and Wind Power Generation in Brazil by 2025

EDP Group Plans to Invest in Renewable Energies in Brazil. The Company Will Invest R$ 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 has committed to the Ministry of Mines and Energy (MME) its intention to invest around R$ 10 billion by 2025 to produce solar and wind energy in Brazil. Of this total, R$ 3 billion will be allocated to the solar and wind energy sector, R$ 6 billion will be directed to distribution, and the remainder will be for transmission. This will be EDP’s largest investment in renewable energies in the country.

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EDP Will Reach 1GWp in Solar Energy

The company states that the investment in solar energy will be made through EDP Brazil, and its main objective is to expand the size of the company’s solar energy park in the country by 20 times compared to 2020, reaching an installed capacity of 1 GWp.

The company’s investments in solar energy include projects in distributed generation as well as centralized generation. The investments in wind energy will be made through EDP Renewables, another company in the group. EDP’s investment plan in renewable energies in Brazil was the main topic of the meeting between Migue Stilwell d’Andrade, the global CEO of the group, and Bento Albuquerque, Minister of the Ministry of Mines and Energy.

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The meeting took place last week in Lisbon, Portugal. The meeting also included the presence of Miguel Setas, Executive Advisor of Networks of the EDP Group, and also the Director of Marketing, Communication, and Stakeholders of EDP Brazil, Nuno Rebelo de Souza.

EDP Is Investing in Other Sources of Renewable Energy

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

In this first phase, an analysis of various configurations for an offshore green hydrogen production module was developed, where the production process is carried out using electricity generated by offshore wind farms. According to the company, this type of wind source is expected to expand by the beginning of the next decade, and the project demonstrates a significant advantage in producing renewable energies in the same place.

Get to Know EDP Group

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

Just last year, the company achieved a net profit of R$ 2.2 billion, reaching its highest performance and a 43% increase compared to the previous year. In addition to Brazil, the company, which is based in Portugal, operates in 27 other countries, and has been part of Euronext Lisbon, the Lisbon stock exchange, since 1997. Additionally, it is also part of the Dow Jones Sustainability Index.