Why is EDP Renewables maintaining the US as its top investment market despite exiting offshore wind there?

EDP Renewables is maintaining the US as its top investment market because it is keeping its planned €4.5 billion ($5.26 billion) investment in the country over the next three years — announced in November — which accounts for about 60% of the company's total investment through 2028, despite withdrawing from US offshore wind development.

What is EDP Renewables' stance on its joint venture Ocean Winds and windfall taxes in Portugal and Spain?

EDP Renewables' CEO stated the company is 'very comfortable' with its 50–50 joint venture Ocean Winds — which operates and develops offshore wind projects across several countries — and intends to retain its stake; he also criticized proposed windfall taxes on electricity producers in Portugal and Spain as 'mak[ing] no sense', arguing they are not benefiting from higher natural gas prices driven by the Iran war.

EDP Renewables to Keep US as Top Investment Market Despite Offshore Wind Exit

May 5, 2026

EDP Renewables maintains $5.26 billion U.S. investment plan through 2028 despite exiting domestic offshore wind projects. CEO cites strong confidence in joint venture Ocean Winds and opposes Iberian windfall taxes.

reuters

2026-05-05

EDP Renewables to Keep US as Top Investment Market Despite Offshore Wind Exit

EDP Renewables to Keep US as Top Investment Market Despite Offshore Wind Exit

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