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EDP Commits $1.5 Billion to French Renewable Energy Projects Through 2030

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EDP plans to invest 1.3 billion euros ($1.5 billion) in France through 2030 across over 1 gigawatt of wind, solar and battery projects, the company said Tuesday.

The renewable energy developer announced the investment at the ninth Choose France Summit through its French subsidiary EDP Renewables and Ocean Winds, its offshore wind joint venture with ENGIE.

EDP will direct the funding toward onshore wind, offshore wind, photovoltaic and energy-storage projects that support France's energy security and decarbonization goals while strengthening grid flexibility.

EDP has developed over 800 megawatts of wind and solar capacity in France since 2006, generating nearly 12 terawatt-hours of electricity during that period, the company said.

Globally, EDP operates 32.8 GW of capacity and maintains activities across electricity generation, transmission, distribution and retail, allowing it to develop integrated energy solutions across multiple markets.

The company's business plan through 2028 includes more than 12 billion euros in investments worldwide, with roughly 70% allocated to wind, solar and battery projects and the remaining 30% directed toward network development.

EDP said wind and solar power can strengthen long-term energy security by providing locally generated electricity for decades, reducing exposure to geopolitical disruptions while supporting the transition to cleaner and more efficient energy systems.

France and the broader European market will play a central role in that strategy, as governments seek to accelerate the deployment of low-carbon power and reduce dependence on imported fossil fuels, EDP added.

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