EDP secures largest government tender in Singapore with up to 200 MWdc of solar projects
Lisbon, February 27th, 2024: EDP - Energias de Portugal, S.A. (“EDP”), through its 71.27% owned subsidiary EDP Renováveis, S.A. (“EDPR”) has been awarded the largest initiative under the Government-led Solar Nova program - Solar Nova phase 8 - with the right to build and operate for 20 years up to 200 MWdc (174 MWac) of solar distributed generation (DG) capacity, to be installed on the rooftop of public buildings, starting construction in 2024.These projects contemplate the installation across 1,176 public buildings, in between public-housing and government owned buildings.
EDP holds a prominent position as a leader among European-based solar distributed generation (DG) players, boasting an installed capacity of 1.9GWp. The present announcement marks a significant milestone in advancing EDP's commitment to invest €2.5Bn in Solar DG initiatives from 2023-26, deploy 4.1 GWp with EBITDA growth from immaterial contribution in 2022 to €0.3Bn in 2026, 75% coming from EU, US and Singapore.
Singapore reflects an attractive growth opportunity for EDP in the APAC region, with a focus on low-risk and high-quality projects.
EDPR has already secured 58% of EDPR’s 17 GW target total capacity additions for 2023-2026, presented in March 2023 Capital Markets Day, continuing to reinforce its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility, fostering the acceleration of the energy transition and the decarbonization of the economy.
This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council.
EDP – Energias de Portugal. S.A.