EDP to be 100% renewable by end of next decade

in News · 08-11-2019 01:00:00 · 0 Comments

The CEO of Portuguese power utility EDP, António Mexia, said that by the end of the next decade, the energy supplied by the
company will be 100% from renewable sources.

“At the end of the next decade we [EDP] will be 100 percent renewable,” said António Mexia, who was speaking to the audience present at the panel “Remodeling business models to save the planet”, during the Web Summit in Lisbon.

Underlining that, currently, more than 75 percent of the energy produced by EDP comes from renewable sources, such as water, wave and solar energy, António Mexia stressed, however, that there is fossil energy, namely gas, which will play a major role in the energy transition.

“Renewables are not available 24 hours a day,” said the energy leader, adding that it is necessary to combine energy from various sources to ensure energy efficiency.

Asked about a way to reduce the value of the electricity bill in Portugal, Mexia reiterated that renewable energy is the best news to lower the cost of electricity.

“Renewables are the cheapest and most efficient technology for generating energy,” he said.

The president of EDP also pointed the finger at policymakers, particularly from the European Union and the US, who, in a sector as regulated as energy, are falling behind in terms of fighting climate change.

In António Mexia’s view, there are still many people who continue to fight against the energy transition.
“The problem of climate change cannot be postponed,” he said.


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