The EDP group plans to deploy more than one billion euros in Galicia to develop projects as part of the process of transition to a more sustainable energy and economic model, within the framework of European Next Generation funds. The company held an institutional meeting this morning with the President of the Xunta de Galicia, Alberto Núñez Feijoo, with the participation of its CEO, Miguel Stilwell, COO for Europe and Brazil, Duarte Bello, and the Managing Director for Spain, Rocío Sicre.

During the meeting, the EDP team reaffirmed the group’s commitment to the society and economy of Galicia, where it has been operating since 1996. In this regard, they presented the projects on which they work in collaboration with several Galician entities with a strong presence in the country. region and whose main objective is to help promote the transition of the Galician economy towards a more sustainable and fairer model, with emphasis on the reactivation of the territories whose economic activity has been most affected by the decarbonization process.

With this objective, the actions that EDP will develop in collaboration with several local partners could deploy more than a billion investments in Galicia, an amount that takes into account both the investment planned in the business plan of the company and the investments to be made within the framework of new generation European funds. This investment volume will be allocated to various technologies, from onshore and offshore wind power generation to storage and green hydrogen.

EDP, through its subsidiary EDPR, is currently one of the main wind power operators in Galicia. It has 9 operational wind farms, located in the provinces of A Coruña and Lugo, with a total installed capacity of 264 MW, which have involved an investment of 330 million euros over the past 25 years.

Through this technological and industrial presence, EDP reaffirms its commitment to the creation of wealth and jobs in the region. The group gives priority to the subcontracting of local companies in all phases of a wind project, from the promotion, when the services of engineering, consulting and environmental specialists are necessary, to the works of ‘operation and maintenance required when commissioning a wind farm.

In addition, EDP is the main electricity distribution operator in the province of Lugo through the distributors Viesgo Distribución and Begasa, and distributes more than 1 TWh of energy to 42 municipalities through a network of 12,450 km. This business unit plans to invest 82 million euros in the region between 2021 and 2024.

Miguel Stilwell, President and CEO of EDP, mentionned: ‘The renewable energy sector represents an opportunity for Galicia not only to play a leading role in a necessary change, but also to promote and revitalize its economy and stimulate the well-being of local communities. The renewable activity produces important economic contributions for the municipalities where its facilities are located, thanks to the collection of taxes, which increases the resources of the local councils to be able to develop local plans and actions. It also helps to boost the industrial fabric at both regional and local level, with the creation of jobs and the resulting infrastructure investment as part of the energy transition.“.