To become the first 100% green utility by 2030. This is the ambitious and strong goal that Group EDP has set itself, and that begins with 24 000 million euros in investments until 2025 in energy transition.

Rui Teixeira, managing director of EDP Spain, has done a presentation in the Senate about the company’s strategy for the following years. Within the Ecological Transition Commission and under the title, 'Policies for sustainable economic development', Teixeira has detailed how EDP will contribute to achieving the objectives set by Europe and Spain.

Teixeira has underlined the cornerstones of the company’s strategy in Spain, that go through promoting the deployment of renewable energies, modernize the electric networks, engaging with storage, promoting the electrification and distributed generation, encouraging the green hydrogen development, and supporting decarbonization within the framework of fair transition.

To fulfil this strategy, EDP expects to develop numerous projects in Spain, at the same time that it is promoting performances linked to the European recovery funds that could mobilize more than 7 000 million euros.

The growth of renewable energies is key for EDP. Therefore, it expects to perform repowering and hybridizations in its wind parks with photovoltaic energy and batteries, floating offshore wind projects – for Asturias it considers a park of 50 MW – and mini-hydraulic installations, such as those already announced for Cantabria and Asturias with the use of hydro-screws.

In the distribution fiend, the company has duplicated its nets after the acquisition of Viesgo and has an ambitious investment plan. Until 2025, EDP expects to invest 700 million euros in the modernization and digitalization of its networks in Spain.

Regarding storage, EDP works in aligned projects with the Government’s strategy recently approved, with initiatives linked to hydraulic pump, batteries, and other innovative technologies.

The company is also performing actions channeled towards the promotion of distributed energy, electric mobility and industrial decarbonization. The impulse of shared domestic self-consumption stands out, like the Solar Neighborhood that is being built in Zaragoza and that expects to expand to other Spanish cities, and the development of a recharge infrastructure for electric cars, that currently sums 300 points. In the industrial field, EDP is collaborating with its clients in self-consumption and energy efficiency projects, like key elements to industrial decarbonization.

Green hydrogen is the priority in EDP’s strategy, that already works in reference initiatives with its client to decarbonize steel, chemical, cement or fertilizer industries. Likewise, it is studying pre-commercial projects destined to transport.

During its intervention, Rui Teixeira has also pointed out two priorities for Spain, including that the National Fund for Sustainability of the Electric System distributes the decarbonization effort among all the technologies, as it is a national goal, and to eliminate the 7% tax of electric generation.

The senators highlighted some of the differentiating EDP’s projects that have something to do with circular economy in its industrial sites, and inquired about the projects that, on a day like today, have to do with initiatives aimed at promoting women's employment.