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    EDP invests EUR 1.5 billion in offshore wind power until 2025

    June 24, 2022 - CE Noticias Financieras


      EDP will invest around E1.5 billion in offshore wind energy through Ocean Winds, which could represent up to 17 gigawatts (GW) of renewable capacity in the ocean, the CEO announced today.

      "We will invest about 1.5 billion euros in renewable projects until 2025, this is EDP's part, so Ocean Winds, as a whole, has our partner [Engie] that then invests the other half and this may represent up to about 17 GW, 17,000 megawatts, of renewable capacity in the ocean," explained to Lusa the CEO, Miguel Stilwell d'Andrade, regarding the United Nations Oceans Conference, which takes place in Portugal, from June 27 to July 1, and with the participation of EDP.

      Ocean Winds is a joint venture created by EDP and the French company Engie, in July 2020, with the purpose of investing in wind projects globally.

      This investment is planned in the company's business plan until 2025, but according to the CEO, it is being analyzed to go "further", since Ocean Winds "has already achieved what was planned in the business plan."

      "[Offshore wind] clearly is one of the areas that is growing more, it is becoming more difficult to do wind 'onshore' [on land], even for environmental issues and sometimes some resistance by local communities, and in that sense the 'offshore' has a lot more potential," said the leader of EDP.

      Of the total offshore wind capacity planned, about five to seven GW of projects are already in operation or under construction by 2025, for example in Scotland or Belgium.

      The company also has another five to 10 GW of projects under development, for example in the United States, South Korea and France.

      "We have some experience not only in conventional offshore, we have more than 1,000 MW operating, for example, in Scotland and we have about 600 in Belgium, but we also have in floating, I think there we have one of the projects that is pioneering, which is the WindFloat, near Viana do Castelo, it is a technology that we are thinking of using also in other projects, "pointed Stilwell d'Andrade.

      In Portugal, EDP began investing in this type of technology with the development of WindFloat Atlantic, which allowed the exploration of the wind potential at sea, in depths greater than 40 meters, being the first offshore wind power plant in the world without the traditional piles that are used in this type of infrastructure, and which went into operation in 2020.

      According to the most recent data, advanced by the responsible, WinFloat produced in total about 130 gigawatt-hours (GWh), which can supply more than 100,000 inhabitants and avoid the emission of 58,000 tons of carbon dioxide (CO2).


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