The firm is investing in floating offshore wind technology
EDP to invest €1.5bn in renewables
Money will go to Ocean Winds, a joint venture with Engie that has an 11GW floating offshore wind portfolio
Portuguese utility EDP plans to invest €1.5bn ($1.6bn) in the development of offshore wind projects by 2025. The money will be invested in Ocean Winds, a joint venture with French utility Engie that has a portfolio of offshore wind projects with 11GW of gross capacity—25MW of which is operational and 1.5GW of which is under construction, with the rest in development. By 2025, Ocean Winds plans to add 5-7GW of projects in operation or under construction and 5-10GW of projects in an advanced stage of development. “This is the time for a consistent and collective action to transform the world into a better place for the generations to come. EDP will continue to contribute to this change with
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