EDP to invest EUR 470m in green energy at its coal sites in Spain

Portuguese utility EDP - Energias de Portugal SA (ELI:EDP) said Friday that it plans to invest up to EUR 470 million (USD 573.3m) in green projects in Spain's Asturias region as it prepares to close its coal-fired plants there.

The company has set a target to be coal-free by 2025 and fully green by 2030.

In Asturias, a region in northwest Spain, EDP operates the Soto de Ribera and Abono coal-fired plants, the sites that it now wants to transform into centres for renewable energy.

The request to close the Soto de Ribera unit 3 has already been submitted, EDP said. Plans for the site include the addition of a mini-hydroelectric station, a photovoltaic (PV) park, a green hydrogen production set-up and battery storage.

The project for the mini-hydro plant is in the permitting phase, according to the company.

The Abono plant will stop burning coal in 2025 and the location would be converted into a green hydrogen valley. To make this happen, EDP would install a PV park at the plant complex, add a floating wind farm on the nearby coast and take advantage of the access to water, electrical infrastructure and to the seaport of El Musel in an effort to produce and store green hydrogen, the company said.

EDP registered its renewables arm EDP Renovaveis SA (ELI:EDPR) in Oviedo, the capital of Asturias, however, the subsidiary is based in Madrid.

(EUR 1.0 = USD 1.22)

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