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EDP Renewables (EDPR) plans to invest £12.86bn in onshore renewables in the UK over the coming years. EDP Group’s entry into the onshore market underlines broader efforts to diversify its presence in the UK.
Last July it announced the acquisition of two renewable energy portfolios, both wind and solar, with a forecast capacity of 544 MW. Following on from these acquisitions, the Group plans to invest close to £660m in expanding this business over the next five years. Moreover, the company is actively seeking new opportunities in this segment, with 200MW of wind projects currently being negotiated with local partners. This investment is additional to that already made by Ocean Winds, the joint venture owned 50/50 by EDPR and ENGIE dedicated to offshore wind, in the Moray East and Moray West projects, amounting to £2.65bn.
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