BUSINESS
Business Plan
Imágenes del proyecto SolarNova 8 en Singapur
27/08/2024

EDP Collaborates with Microsoft on Largest Solar Energy Portfolio in Singapore

Microsoft will purchase 100 percent of the renewable energy exported to the grid from EDP Renewables’ SolarNova 8 project in Singapore. Long-term contract supports the development of new solar projects and contributes to Microsoft’s goal of achieving 100% renewable energy. 

This is the second agreement signed between both companies in Singapore, reinforcing a collaboration for clean energy that began in 2018.

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Capital Markets Day 2023
02/03/2023

EDP anticipates 2025 financial targets and ramps up investment in the energy transition

25 billion investment plan until 2026 will boost renewable additions and support the group’s new net zero targets. Intended capital raise at EDP and EDPR to support the growth ambition. Delisting of EDP Brazil unlocks value creation and promotes corporate simplification.

 

  • €25 Bn investment plan: €21 Bn focused on Renewables and €4 Bn focused on electricity networks, representing an annual gross investment of ~€6.2 Bn – 30% higher versus previous Business Plan 
  • Renewables deployment to increase to 4.5 GW per year, totalling 18 GW gross additions by 2026 aiming to a renewables installed capacity of 33 GW by 2026 and with the ambition to reach more than 50 GW by 2030 
  • Renewables investments diversified by technologies including Wind Onshore (40%), Solar PV Utility Scale (40%), Solar Distributed Generation (12%), Wind Offshore (5%) and Storage & Hydrogen (3%)  
  • We are leveraging our superior portfolio and infrastructure as a competitive advantage for increased renewables deployment based on hybridization and repowering 
  • €3Bn investment in digitalization and innovation to foster efficiency and a sustainable growth 
  • Reiterated commitment to be coal free by 2025, 100% renewables generation by 2030 with a Net Zero emissions target by 2040 (SBTi approved) 
  • Future proof organization creating 3000 new jobs by 2026 and communities’ empowerment through a €200m investment in social impact initiatives 
  • Reiteration of BBB credit rating commitment, FFO/Net Debt of 21% in 2026 
  • Recurring EBITDA of €5.7 billion by 2026, with a 6% CAGR in 2022-26 
  • Recurring net income €1.4-€1.5 billion by 2026, with 12%-14% CAGR 2022-26 
  • New dividend policy, with target payout ratio between 60-70% and an increase in dividend floor to €0.20 per share in 2026
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