Wind power

Ocean Winds to invest 3 billion euros to develop offshore wind projects

Seetao 2022-06-27 15:09
  • The scale of offshore wind power in Europe is strengthened, and the energy supply of the European continent is stabilized
  • The scale of European offshore wind power projects will be unprecedentedly increased to stabilize the energy supply of the European continent
Read this article
4 Minutes

Ocean Winds, a joint venture between EDP and Engie, has decided to invest 3 billion euros to develop offshore wind projects by 2025. Engie and EDP have each agreed to invest 1.5 billion euros in the development of these projects. Additional investment in the project will be in the form of debt and financing from external partners.

Miguel Stilwell d'Andrade, CEO of EDP, said the total amount invested in these projects will clearly be much higher than the initial €3 billion. Ocean Winds plans to add about 5GW to 7GW of operational or development capacity over the next three years, and has a pipeline of 5GW to 10GW of advanced projects.

Since its inception in 2020, the joint venture has grown its portfolio of operating or development projects to more than 11GW. It currently operates in seven countries around the world. EDP CEO Miguel Stilwell d'Andrade said: "Now is the time for concerted and collective action to make the world a better place for future generations. EDP will continue to contribute to this change through ambitious energy transition goals. Contributions, including offshore wind and floating solar.

In addition to their high commercial potential, these segments also have clear economic and environmental benefits, which EDP will continue to promote, as well as the sustainability of the oceans, in line with the UN Sustainable Development Goals and those established in the Paris Agreement. Target. These projects will aid EDP's efforts to eliminate coal production by 2025 and go fully green by 2030.

In January 2022, the European Commission selected EDP and its partners to develop a 100MW green hydrogen production project in Portugal. Other companies involved in the development of the GreenH2Atlantic project include Galp, Bondalti, Martifer, Engie, VestasWind Systems, McPhy and Efacec.Editor/XingWentao

0
Collect