Portugal’s EDP to add up to 2GW in PV capacity by 2022

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
EDP has added floating solar to dam installations and will explore wind-solar hybrids (Credit: EDP)

EDP’s solar PV portfolio could grow by 1.5-2GW from the currently installed 100MW by 2022 as part of a broader redeployment to renewables.

As part of its 2019-2022 strategic update, the energy giant vowed this week to work over the next four years to capture the “sizeable” opportunity it sees in the PV market.

EDP’s push will begin with a PV pipeline of some 800MW, half of which is currently being negotiated. The remainder, the firm said, was already secured last year between Brazil – with a 15-year PPA backing a 205MW project in the Pereira Barreto municipality – and in the US, where a 20-year PPA was signed for a 200MW solar park in Indiana.

According to EDP, further growth will be driven by policy events, including Portugal’s planned 2GW-plus solar tendering this year and next and Spain's new climate targets

The firm will also tap into its existing client base in Spain and Brazil and follow developments in the US, where it believes competitiveness could rise as PTC subsidies are phased out.

If fully grown according to plan, solar should represent 25% of additions to EDP’s renewable portfolio between 2019 and 2022. Onshore wind – set to add 5-5.5GW to existing installations of 11.5GW – should account for a 70% share during the period.

To boost both technologies as well as offshore wind, EDP will raise more than €6 billion through asset rotation strategies, as well as sales over the next 12 to 18 months. The firm intends to mainly divest assets in Iberia, with a focus on thermal power.

The 2019 update foresees plans to explore emerging strategies, including wind-solar hybrids. The firm will also pursue floating solar projects, such as the 220kWp installation it added in 2017 to its Alto Rabagão dam in Portugal.

See here for the full version of EDP's 2019-2022 strategic update. 

Read Next

September 17, 2021
A 58.5MW floating PV plant in Thailand, said to be the largest install of its kind in the country, has been connected to the grid, according to inverter and floating solutions supplier Sungrow.
PV Tech Premium
September 15, 2021
Record-breaking power prices across Europe have turned the spotlight on the role fossil fuel plants play in generating electricity and how the transition to renewables-plus-storage could lower consumer bills.
September 15, 2021
The Portuguese Renewable Energy Association (APREN) and the Portuguese Association for the Photovoltaic Industry (APESF) have joined forces to represent Portugal's PV sector.  
September 14, 2021
Polish renewables developer PAD-RES is to be acquired by a joint venture established by real estate investor Kajima and private equity firm Griffin Real Estate.
PV Tech Premium
September 13, 2021
Following the release of the US Department’s Solar Futures Study, Liam Stoker assesses the downstream and upstream trends that must be realised for US solar to fulfil its potential.
September 7, 2021
Supply disruptions in the coal and gas sectors have contributed to record electricity costs across Europe, leading to calls for more support for renewables generation to mitigate future price rises.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021