This investment is part of the strategic plan presented to the market in February, which provides €24 million for energy transition by 2025, of which €19.2 million (80 percent) in renewable energy by 2025, which includes wind, solar, green hydrogen and energy storage technologies.

“This growth is only achieved thanks to this ambitious strategy and which would not be possible without normal asset rotation,” said the company, which has an asset rotation strategy totalling €8 billion, under which the sale of wind assets in the United States was recently announced.

EDP also pointed out that this €640 million investment will correspond to an increase of over 700 megawatts (MW) spread across 23 clean generation projects across the country.

Among the projects already approved and under development, EDP highlighted the package of five projects that combine solar and wind power, totalling 30 MW and with an associated investment of 16 million Euros, whose start of construction is scheduled for this year, in Sabugal, Aljezur, Peniche and Loures.

The company also highlighted the Solar Cerca project, of 142 MW that comes from the solar auction held in 2019 and should start construction in 2022, in Ribatejo, with an investment of €93 million, and, also, the floating solar park project with more than 12,000 photovoltaic panels in the Alqueva dam reservoir, with an investment of €6 million and annual production capacity of seven gigawatt-hours.

The Alqueva project has the installation of the panels and floats scheduled for the summer, and is expected to start producing energy still this year.