EDP Energias de Portugal, whose main shareholder is China Three Gorges (CTG), is launching two units that will exploit the potential of green hydrogen and energy storage systems.
The launch is parte of EDP Group’s commitment to decarbonisation, the company announced.
The H2 Business Unit (H2BU) will be the Group’s new arm for the development of green hydrogen projects, while the dedicated storage unit, built in EDPR North America, will aim to achieve a storage capacity of 1 GW within five years
The green hydrogen market represents one of the growth axes for EDP, the result of not only the decarbonisation objectives, but also of the cost reduction that has been achieved and is expected to achieve competitiveness over the course of this decade.
With the creation of the new business unit, EDP aims to strengthen the integration of green hydrogen into the Group’s portfolio in a strategic and cross-cutting way and promote investment in renewables.
H2BU will be led by Ana Quelhas, director of Energy Planning of the EDP Group.
“The creation of these business units reinforces EDP’s leadership in the energy transition. The increasing penetration of renewables increasingly requires integration with storage systems”, said EDP CEO Miguel Stilwell de Andrade.
“If we want to meet carbon neutral objectives, we will need to turn to others energy vectors, such as green hydrogen”, Andrade added.
China Three Gorges (CTG) recently sold shares representing up to 2.52% of the capital of Portugal’s main utility, EDP, worth more than EUR 500 million.
