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    Home > Chemicals Industry > International Chemical > Portugal will invest an additional €12 billion in renewable energy by 2022

    Portugal will invest an additional €12 billion in renewable energy by 2022

    • Last Update: 2023-01-02
    • Source: Internet
    • Author: User
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    Portuguese utility Energias de Portugal SA (ELI:EDP) plans to invest around €12 billion ($13.
    6 billion) over the next four years, with about 75 percent going to renewable energy
    .

    EDF said on Tuesday it will increase its annual capital expenditure (CAPEX) to €2.
    9 billion between 2019 and 2022, an increase of about 60 percent
    compared to 2016-2020.
    EDF plans to secure more than €6 billion for
    the program through asset rotation and disposal.

    EDP plans to add 8 GW of renewable energy capacity by 2022, including: 5-5.
    5 GW of onshore wind and 1.
    5-2.
    0 GW of solar photovoltaic (PV).

    In addition, EDF plans to build 0.
    2-0.
    3 GW of offshore wind power, bringing its total power to more than 2 GW
    by 2025.
    The plan also includes new 0.
    1-0.
    2 GW of hydropower
    .

    By the end of 2018, EDF had installed about 21 GW of renewable energy, of which hydropower accounted for 45% and onshore wind and solar combined accounted for 55%.

    In offshore wind, the company owns a 33.
    3% stake in the 950 MW Moray East project in UK waters and a 29.
    5% stake
    in the 992 MW Noirmoutier and Le Treport developments in France.
    It also invested 67 percent
    of the 800 MW Moray West project.
    In the U.
    S.
    , EDP is preparing up to 1.
    6 GW of Mayflower plans, and it owns a 50 percent stake
    in that early stage.

    In 2018, the company reported a recurring net profit of €797 million, up 3%
    year-on-year, thanks to growth in its renewable energy sector and the Brazilian region.
    EDP's renewable energy capacity grew by 2% last year and now accounts for 74%
    of the group's total capacity.

    Portuguese utility Energias de Portugal SA (ELI:EDP) plans to invest around €12 billion ($13.
    6 billion) over the next four years, with about 75 percent going to renewable energy
    .

    renewable energy

    EDF said on Tuesday it will increase its annual capital expenditure (CAPEX) to €2.
    9 billion between 2019 and 2022, an increase of about 60 percent
    compared to 2016-2020.
    EDF plans to secure more than €6 billion for
    the program through asset rotation and disposal.

    EDP plans to add 8 GW of renewable energy capacity by 2022, including: 5-5.
    5 GW of onshore wind and 1.
    5-2.
    0 GW of solar photovoltaic (PV).

    In addition, EDF plans to build 0.
    2-0.
    3 GW of offshore wind power, bringing its total power to more than 2 GW
    by 2025.
    The plan also includes new 0.
    1-0.
    2 GW of hydropower
    .

    By the end of 2018, EDF had installed about 21 GW of renewable energy, of which hydropower accounted for 45% and onshore wind and solar combined accounted for 55%.

    In offshore wind, the company owns a 33.
    3% stake in the 950 MW Moray East project in UK waters and a 29.
    5% stake
    in the 992 MW Noirmoutier and Le Treport developments in France.
    It also invested 67 percent
    of the 800 MW Moray West project.
    In the U.
    S.
    , EDP is preparing up to 1.
    6 GW of Mayflower plans, and it owns a 50 percent stake
    in that early stage.

    In 2018, the company reported a recurring net profit of €797 million, up 3%
    year-on-year, thanks to growth in its renewable energy sector and the Brazilian region.
    EDP's renewable energy capacity grew by 2% last year and now accounts for 74%
    of the group's total capacity.

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