EDP aims for 50GW of renewables additions by 2050, looks to US for solar growth

February 26, 2021
Facebook
Twitter
LinkedIn
Reddit
Email
EDP Renewables’ 20MW Cameron Solar Park in South Carolina. Image: EDP Renewables via Twitter.

EDP will focus on North America to ramp up its solar capacity in the next five years as part of a new strategic update that will see the Portuguese utility target more than 50GW of renewables additions by 2030.

The company will invest €24 billion (US$29.1 billion) by 2025, of which 80% will be on renewables, with a commitment to deploy 4GW of clean energy per year and double solar and wind capacity from 12GW to 25GW.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

EDP will also step-up investment in the digital transformation of the business and innovation to provide new solutions in hydrogen, storage, smart grids, energy communities and e-mobility.

The utility said the strategy will pave the way for it to be coal-free by 2025 and carbon-neutral by 2030.

“This plan is a bold and ambitious commitment and an unprecedented acceleration of growth in renewables building on our strong track record. The global challenge presented by climate change requires a different mindset, ambition and, above all, measurable action,” said EDP CEO Miguel Stilwell d’Andrade.

In terms of PV additions, the company aims to grow its global presence tenfold between 2021 and 2025, with approximately 9.3GW of new capacity. At 5.5GW, the majority is set to be in North America, where the utility’s EDP Renewables unit recently entered the distributed solar space through the acquisition of a majority interest in C2 Omega. The strategic update says EDP will aim to develop a “distinctive approach” to commercial and industrial solar through a dedicated distributed platform in the US.

In Europe, around 2.4GW of solar capacity additions are forecasted for the next five years, with a focus on markets such as Portugal, Poland, Romania as well as Spain, where the company secured 98MW of PV capacity in the country’s renewables auction last month. Elsewhere, 700MW of PV is expected to be added to the company’s portfolio in Latin America, with a further 700MW in other markets globally.

Distributed solar deal in Brazil

In a separate announcement, EDP’s Brazilian subsidiary said it has secured a deal to acquire distributed solar assets in Brazil from a local unit of AES Corporation for BRL177 million (US$32 million).

The deal involves AES Inova, a distributed solar investment platform that holds a portfolio of approximately 34MWp assets in the states of Rio Grande do Sul, São Paulo and Minas Gerais, with projects at varying stages of development.

EDP Brazil said the transaction sees it “reinforce its commitment” to invest in distributed PV, expanding its portfolio of projects by around 50% and keeping the segment as an “important growth path”.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
T1 Energy and Nextracker have agreed to use the latter’s steel module frames at the former’s new 5GW module manufacturing facility in Dallas.
October 15, 2025
The average price of a solar PPA signed in North America increased 4% between the second and third quarters of 2025, according to LevelTen.
October 13, 2025
The world is on pace to exceed 3TW of cumulative solar installations by the end of the year, according to a report from DNV.
October 13, 2025
US solar manufacturer T1 Energy has acquired a minority stake in fellow US-based solar cell producer Talon PV.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK