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Portuguese energy EDP, through its subsidiary EDP Renewables (EDPR), has actually gotten Australian solar designer ITP Development.
This acquisition increases EDP’s portfolio in the nation by 1.5 GW of solar and wind tasks at numerous phases of advancement and with the choice to co-locate battery energy storage systems (BESS) in the east of Australia.
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The portfolio likewise consists of a 480MWp solar PV plant and 200MW BESS task at an innovative phase of advancement in Queensland, which is anticipated to be functional in 2026.
EDPR went into the Asia Pacific (APAC) market in 2022, with a financial investment strategy of US$ 7.39 billion. With this newest acquisition in Australia, the business anticipates to use the nation’s development in renewable resource in the coming years. Considering that it went into the APAC market, the business set up 1.3 GWp of solar capability, both in utility-scale jobs and dispersed generation.
In the dispersed generation sector, last August, the business prepared a financial investment of over US$ 2.7 billion over the next 3 years to set up 4GW of dispersed PV internationally.
In the area, the business stated it is concentrating on markets with beneficial decarbonisation chances such as Australia, Singapore and Japan.
PV Tech Premium just recently covered the Australian markets’ dip in personal financial investment in 2015 and what has actually been done to go back that pattern. Amongst these steps is the federal government’s underwriting of 32GW of renewable resource generation and energy storage capability, late in 2015.