The deployment of renewable energy sources will increase to 4.5 GW per year, totaling gross additions of 18 GW by 2026, with the aim of reaching an installed capacity of 33 GW by 2026 and with the intention of reaching over 50 GW by 2030.
EDP makes a repeated commitment to stop using coal by 2025 and to generate 100% from renewable sources by 2030, with a goal of net zero emissions by 2040.
The 23-26 business plan will support EDP's net zero commitments and follows a selective and disciplined approach, allocating 85% of the total investment to renewables, customers, and energy management, 15% to electricity networks in fast-growing and low-risk markets from 4 regional centers: Europe (40% of the investment plan), North America (40%), South America (15%) and Asia-Pacific (5%). EDP's annual investment rate will increase by 30% to €6.2 billion while maintaining sustainable growth and ESG excellence within a future-ready organization.
Onshore wind and solar power will each account for 40% of the €21 billion renewable energy investment plan, complemented by emerging technologies such as technological consumption photovoltaic power generation (12%), storage, and hydrogen (3%). Offshore wind will account for 5%, with capacity growth through the Ocean Winds joint venture, and will provide significant growth visibility over the next 10-15 years.
EDP also has over 13,000 from around the world, 63 different nationalities. The updated business plan foresees 3,000 new hires by 2026, as well as the goal of reaching 31% women in management positions.
The group will invest up to €200 million in initiatives with a social impact until 2026.
