Portuguese utility EDP has announced its investment strategy for the coming years, establishing a €25 billion (US26.5 billion) plan to achieve 33GW of deployed renewables capacity by 2026.
Portugal's latest solar auction made headlines earlier this month as record-low negative bids were posted, with the results illustrating the value developers place on securing a grid connection and the strong potential they see in hybridising renewables assets.
Portugal’s first floating solar auction closed with a world record-low price, with utilities EDP and Endesa among the winning bidders, the country’s environment ministry has announced.
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.
Solar PV bidders secured two-thirds of allocated capacity in the first of Spain’s new renewable energy auctions, which was held yesterday (26 January) and was more than three times oversubscribed.