.jpg)
1 hour ago
3
Article content
(Bloomberg) — EDP SA’s renewables unit will invest about $1 billion in green energy projects across Asia-Pacific through 2028, with a focus on developing its presence in Australia.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
About half the money will go to building solar and storage in Australia, Miguel Fonseca, chief executive of EDP Renewable’s APAC operations, said in an interview. He added the company aims to tap into the nation’s already high demand for energy storage.
Article content
Article content
The firm will target similar projects in the rest of Asia as well, with plans to deploy $2 billion in the region by the end of the decade, Fonseca said.
Article content
Article content
The focus on Australia and other markets that the company considers ‘high-growth’ comes after it exited several Asian countries like South Korea, Indonesia and Thailand due to challenges including a lack of permitting clarity and regulatory maturity. The green arm of the Portuguese utility EDP SA, which was in 10 Asian markets three years ago, remains active in Australia, Japan, Singapore, Vietnam, China and Taiwan.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The company expects the conflict in the Middle East to have a positive effect on the renewable energy sector, though the short-term impact is likely limited, Fonseca said.
Article content
Renewable projects “are a long-term business,” he said. “There will be changes, but you can’t see them yet. But we do see governments having dialogues” about the role of renewables in their energy security, he added.
Article content
(Updates fourth paragraph to add China and Taiwan to markets in which company is still active.)
Article content
Advertisement 1
English (US)