EDP Group Invests €2.5 Billion in Distributed Solar Generation Globally
Strong track record in 17 markets and a recent boost in distributed solar installations steered EDP to a leading position in the sector, with the Group already having installed 1.6 GWp worldwide.
HOUSTON, TEXAS, August 3, 2023 – Solar distributed generation (DG) has become one of the EDP Group's fastest-growing business segments and is expected to represent close to 50% of all new solar additions globally in the coming years. The group is committed to investing €2.5 billion up to 2026 to install an additional 4 GWp in solar projects behind or in front of the meter, for the residential and business sectors, ensuring a decisive contribution to the energy transition.
EDP has a leading global position in solar DG and is a leader amongst European-based players. With more than a decade of experience, the group has installed around 1.6 GWp of solar DG capacity to date with business and residential clients worldwide, of which 0.9 GWp was installed through the “as-a-service” model (in which EDP secures 100% of the initial investment and contracts a long-term PPA with the client).
Operating solar DG in 17 geographic markets worldwide, the Group has a strong track record with dedicated teams that have deployed 127,000 installations on residential houses (in Europe) and with small to large-size businesses and corporate entities, across Europe, Asia Pacific, North America, and Brazil. This achievement showcases EDP's solid ability to secure clients globally while contributing to a more sustainable planet for all.
“Solar distributed generation represents a tremendous opportunity to accelerate the energy transition alongside our clients. This business segment can efficiently provide significant energy cost savings for our clients as it entails shorter permitting and development times and faster payback as compared to the larger utility-scale renewables projects, while also addressing our clients’ growing energy independence aspirations. We are proud to be able to partner with thousands of companies and families to generate clean, reliable, and affordable energy for all”, states Miguel Stilwell d’Andrade, CEO of EDP.
In Europe, EDP’s solar DG installed capacity is expected to grow ~5x in 2023-26. The recently announced partnership with Navigator for a 17MWp solar project showcases EDP’s ability to be an important partner for companies addressing the challenge of the energy transition.
In the US, development of DG projects ramped up with large commercial and industry clients, with a renewed focus on onsite solar and storage deployment, as well as community solar. EDP is expected to deliver a 5x growth in the next 3 years, through key corporate partnerships such as the largest yet corporate partnership for distributed generation signed between EDPR NA Distributed Generation and Google or the recent partnership with Lufthansa to develop an onsite solar facility in Puerto Rico.
In APAC, EDP plans to grow its solar DG presence by 3x until 2026, supported by rising decarbonization targets and a strong manufacturing presence in the region. The company already has more than 1.1 GWp in its pipeline and more than 150MWp secured or under construction. Recently, in China, EDP developed and built its biggest DG project worldwide with a 19MWp capacity.
In Brazil, where EDP is already a top 3 player in solar DG, with a total of 205 MWac between plants in operation and under construction, the company is expected to grow 6x by 2026, compared to 2022, with a focus on rural solar communities.
At the same time, EDP is increasingly being chosen by global companies to develop multi-site and multi-country solar projects. Faurecia, a multinational automotive component company, chose EDP to develop DG projects simultaneously in Europe, Asia, and the United States, in up to 60 locations.
The Group is confident that this global growth will be supported by several of the Group’s competitive advantages in the market, including its quick development turnaround cycle, flexibility in setting up grid connections, accessibility to permitting, and global supply chain, along with its commitment to long-term price predictability. EDP remains committed to working to address its clients’ increasing concerns with energy independence and delivering a competitive solution for their energy needs that will last decades.
About EDPR NA Distributed Generation
At EDPR NA Distributed Generation (EDPR NA DG), accelerating the adoption and success of distributed generation is at the core of our mission. EDPR NA DG provides cutting-edge innovative renewable energy services to the entire North American region. Built on long-standing relationships with developers, power generators, corporate purchasers, municipalities, and local communities, EDPR NA DG delivers a full suite of offerings ranging from financing and development to construction and operation of energy and storage assets poised to scale. For more information, visit www.edprnadg.com.
About EDP Renewables North America
EDP Renewables North America LLC (EDPR NA), its affiliates, and its subsidiaries develop, construct, own, and operate wind farms, solar parks, and energy storage systems throughout North America. Headquartered in Houston, Texas, with 58 wind farms, 10 solar parks, and eight regional offices across North America, EDPR NA has developed more than 9,600 megawatts (MW) and operates more than 8,400 MW of onshore utility-scale renewable energy projects. With more than 1,000 employees, EDPR NA’s highly qualified team has a proven capacity to execute projects across the continent. For more information, visit www.edpr.com/north-america.
EDP Renewables North America (EDPR NA)