By 2022, EDP wants to have more than 90% of its electricity generation from renewable sources, adding seven more GW of installed power to its current portfolio.
Two years from now, the electricity company will have almost 28 GW of wind, hydro and solar energy, among others. The goals were set by Vera Pinto Pereira, CEO of EDP Comercial, during his intervention in the E-Vision: Powering European e-mobility webinar, promoted by Eurelectric.
The first step to get there is already taken: the company has just added the first 511 extra MW of renewable capacity to its range of assets, with the purchase of the Spanish company Viesgo.
At the end of June 2020, the wind and solar capacity under construction were already reaching 2 GW, double the amount of 1 GW under construction three months earlier, in March.
In the first half of the year, renewable energies reached a weight of 80% in the total electricity produced by EDP, leaving the company at a distance of ten percentage points from the target above 90% for 2022 set by Vera Pinto Pereira.
Of EDP’s current 26.8 GW of total installed capacity, 19.8 GW is already renewable. The remaining 26% (7 GW) are still of fossil origin (coal and gas). This was the year when coal almost left the EDP map in the Iberian Peninsula: in the first half of 2019, the company also produced 5,028 GWh of electricity based on coal, while in the same period this year it was no more than 1,207 GWh, a 76% drop.
In distribution, in Spain, EDP already operates in some autonomous communities, with emphasis on the Asturias region.
In the first half of 2020, electricity distributed by EDP in the Iberian Peninsula was 27,318 GWh: 23,491 GWh in Portugal, where the company covers the entire country and is the main operator of distribution networks, with a total length of 228,046 km; and 3,827 GWh in Spain. Today, EDP has about 20,000 km of distribution networks across the border.