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€2.5 billion to be invested in distributed solar generation globally

August 14, 2023

Solar distributed generation (DG) has become one of the fastest growing businesses around the world – which is expected to represent close to 50% of all new solar additions globally in the coming years. The Portuguese group EDP announced an investment of €2.5 billion up to 2026 to install an additional 4 GWp in solar projects behind or in front of the meter, for families and businesses, thereby ensuring a decisive contribution to the energy transition.

In Europe, EDP’s solar DG installed capacity is expected to grow ~5x in 2023-26. In the US, there is a strong potential to develop DG projects in large commercial and industry clients and to develop remote energy communities. EDP is expected to deliver a 5x growth in the next 3 years. And in Brazil, where EDP is already a top 3 player in solar DG, the company will invest BRL 2.3 billion in distributed solar power generation plants by 2026.

Moving fast

According to the International Energy Agency, clean energy investments will widen their lead over fossil fuel disbursements in 2023. Annual investment in renewable energy has increased by almost a quarter since 2021, compared with a 15% rise in fossil fuels, the Paris-based energy regulator said in its World Energy Investment report. “Clean energy is moving fast – faster than many people realize,” said IEA Executive Director Fatih Birol.

Source: Forbes | EDP