EDP Group to Invest Over €1 Billion in Green Energy in Galacia, Spain

Lisbon-headquartered electric utilities company EDP- Energias de Portugal recently announced its plans to invest more than 1 billion euros in Galicia, Spain, over the next 10 years, to develop renewables and support the region’s on-going transition to a new energy and economic model, within the framework of the European Next Generation funds.

The Portugal company is one of the leading wind power operators in Galicia, where it operates 9 wind farms with a combined installed capacity of 264 MW.

Earlier this week, the President of the Xunta de Galicia, Alberto Núñez Feijoo, received a delegation from the energy group headed by Miguel Stilwell, CEO of the EDP Group. In the institutional meeting that followed, Stilwell presented EDP’s plans for the Galician region and pointed out the positive impact of renewable energy activity on the industrial fabric, employment and infrastructures.

During the meeting, EDP’s team reaffirmed the group’s commitment to society and the economy of Galicia, where it has been operating since 1996. They presented the projects on which they are working together with several Galician entities with a strong presence in the region and whose main objective is to contribute to promoting the transition of the Galician economy towards a more sustainable and fairer model, focusing on the reactivation of those territories whose economic activity has been most affected by the decarbonisation process.

The EDP claims that its partnerships with local companies could deploy more than 1 billion in investment in Galicia, an amount that takes into account both the investment planned in the company’s business plan and the investments to be made in the context of the European Next Generation funds. This investment volume will be allocated to different technologies, from onshore and offshore wind generation to storage and green hydrogen.

The group prioritises the contracting of local companies throughout all phases of a wind project, from promotion, when the services of engineering, consultancy and environmental specialists are required, to the operation and maintenance work that is necessary when a wind farm comes into operation.

Furthermore, EDP is the main electricity distribution operator in the province of Lugo through the distributors Viesgo Distribución and Begasa, and distributes more than 1TWh of energy to 42 municipalities through a network of 12,450 km. This business division plans to invest 82 million euros in the region between 2021 and 2024.

Stillwell said, “The renewable energy sector represents an opportunity for Galicia not only to play a leading role in a necessary change, but also to promote and revitalise its economy and boost the well-being of local communities.”

He added, “Renewable activity produces significant economic contributions to the municipalities where its facilities are located, through tax collection, which increases the resources of local councils to be able to develop local plans and actions.”

EDP, through its renewables subsidiary EDPR, is currently one of the main wind power operators in Galicia. It has 9 operational wind farms, located in the provinces of A Coruña and Lugo, with a total installed capacity of 264 MW, which have involved an investment of 330 million euros over the last 25 years.