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

Also in this section
8 April 2025
STRATOS project in Texas granted Class IV permits despite deep uncertainty over Trump administration’s readiness to support carbon management tech
8 April 2025
Gulf Energy to provide AIQ with exclusive access to its proprietary datasets and industry-leading documents. ENERGYai is already trained on petabytes of operational data from ADNOC, and this agreement will provide the solution with access to even greater quantities of relevant, high-quality industry information
4 April 2025
Crucial talks at the IMO focus on a two-tier emissions trading scheme combined with a marine fuel standard
28 March 2025
The massive expansion of the Northern Lights project in Norway is the clearest sign yet that the European oil and gas companies mean business when it comes to CCS