EDP Renewables adds 2.1 GW of renewable energy capacity in 2022 and increases its portfolio up to 14.7 GW worldwide

EDP Renewables adds 2.1 GW of renewable energy capacity in 2022 and increases its portfolio up to 14.7 GW worldwide

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In 2023, EDPR
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  • Expansion to Asia Pacific contributed to deepen EDPR’s commitment with the energy transition, with that region already representing 5% of the portfolio.
  • Solar projects are giving a bigger contribution to the production of EDPR’s clean energy, with 1.1 GW added in 2022.

 

Madrid, 26 January 2023. EDP Renewables (EDPR) remains on track to lead the energy transition and increased in 2022 its installed capacity in renewable projects, its investment in multiple technologies and its clean energy production.

Thus, in its 2022 year-end operational data, the company has reached a total installed capacity of 14.7 GW in renewable assets, which is 1.2 GW more than in 2021, including asset rotations.

Last year, EDPR’s added capacity was mainly driven by the successful expansion of 0.7 GW in solar assets in the Asia Pacific region, and also in South America, that added 0.6 GW of wind capacity in the same period. EDPR added 0.4 GW of wind and solar technology both in North America and in Europe, which includes the company’s first hybrid park and the first one commissioned in the Iberian Peninsula, combining solar and wind energy.

During 2022, EDPR secured asset rotation deals up to 1 GW of capacity in Poland, Spain, Italy, Brazil, and the United States, with a successful build and transfer of a 200 MW solar project in Indiana.

By the end of 2022, Europe and North America accounted for 38% and 49% of the portfolio, respectively. Asia Pacific, a region where EDPR entered in 2022 with the acquisition of Sunseap, already represents 5% of EDPR’s total portfolio.

The company continues to diversify its technologies with solar installations playing a key role as they already represent 12% of EDPR’s total portfolio. Nevertheless, wind continued to be the core technology, representing 88% of the capacity. The company had also 1.5 GW gross in offshore wind in operation.

By the end of the year, EDPR reached 4 GW of record capacity under construction between solar and wind projects, together with the first 40 MW from storage.

EDPR continues to work to lead the energy transition in the markets where it is present. In 2022, the company generated 33.4 TWh of clean energy, which is 10% more than 2021.

This figure is represented by Europe 35% and North America 55% of total production. In Europe, generation increased by 4% year-on-year, thanks to expansions and the stability of renewable resources. In North America, production increased by 8% year-on-year, mainly due to a larger renewable resource in the region and higher installed capacity.

About EDP Renewables (EDPR)

EDP Renewables (Euronext:  EDPR) is the world’s fourth largest wind and solar energy producer operating in 28 markets in Europe, North America, South America, and Asia Pacific. Headquartered in Madrid, with main regional offices in Houston, São Paulo, and Singapore, EDPR has a strong portfolio of world-class asset development and leading operational capabilities in the renewable energy market. These include onshore wind, utility-scale and distributed photovoltaics, offshore wind (through its 50/50 – OW JV) and complementary technologies to renewables, such as batteries and green hydrogen.

Thanks to its employee-centric policies, it has been listed in the Top Workplace 2022 in the United States, Top Employer 2022 in Europe (Spain, Italy, France, Romania, Portugal, and Poland) and Brazil, as well as in the Bloomberg Gender Equality Index.

EDPR is part of EDP (Euronext: EDP), a leading company in the energy transition focused on decarbonisation. Beyond its strong presence in renewables (with EDPR and hydro operations), EDP has an integrated utility presence in Portugal, Spain and Brazil including electricity grids, customer solutions and energy management.