In a strategic move towards bolstering its renewable energy portfolio, the Portuguese energy giant EDP, is investing €2.5 billion in the expansion of distributed solar generation. With an impressive track record across 17 global markets, EDP’s recent surge in distributed solar installations has propelled it to a prominent position in the industry. The company has already established 1.6 GWp of solar capacity globally.
Distributed solar generation has emerged as a rapidly growing segment within EDP’s operations, poised to contribute nearly 50% of all new solar installations on a global scale in the coming years. Demonstrating its dedication to the transition to cleaner energy, EDP (Energias de Portugal) has committed to deploying an additional 4 GWp of solar projects by 2026, catering to households and businesses alike.
EDP’s reputation in distributed solar is high and growing, positioning it as a frontrunner among European competitors. With over a decade of experience, the company has successfully implemented around 1.6 GWp of distributed solar capacity for commercial and residential clients worldwide. Notably, 0.9 GWp of this capacity has been realized through the innovative As-a-Service model, which involves EDP assuming the entire initial investment and establishing long-term Power Purchase Agreements (PPAs) with clients.
Operating across 17 global markets, EDP has showcased its prowess by installing a staggering 127,000 distributed systems in various settings, ranging from residential homes across Europe to small businesses, large corporate entities, and more. This widespread achievement underscores EDP’s ability to attract clients on a global scale while contributing to a more sustainable planet.
Miguel Stilwell d’Andrade, CEO of EDP, affirms the significance of distributed solar energy generation in accelerating the energy transition. He highlights the substantial energy cost savings this approach offers, given its shorter permitting and development timelines, quicker payback periods compared to larger utility-scale projects, and its alignment with clients’ increasing desire for energy self-reliance.