GCC News 24
Business
Politics
Tech
Society
Green
Sports
Entertainment
Translate image English Down Arrow
The MTA Speaks| Prayer times| Weather Update| Gold Price
Follow Us: Facebook Instagram YouTube twitter

EDP to Commit €12bn Through 2028, Majority Directed to U.S. Renewables

EDP to Commit €12bn Through 2028, Majority Directed to U.S. Renewables

Post by : Bianca Haleem

Portugal's largest utility, EDP, has outlined a €12 billion investment programme covering 2026–2028, aimed primarily at accelerating its renewable energy expansion with a notable focus on the United States.

EDP has allocated €7.5 billion to its renewables arm, EDP Renováveis (EDPR), the world's fourth-largest wind operator. The funding will back wind, solar and battery storage projects, with roughly 60% of the planned investment earmarked for the U.S. market. EDPR intends to raise its installed capacity from about 20 GW today to 25 GW by 2028.

Another €3.6 billion of the package is reserved for electricity networks, mainly in Portugal and Spain, reflecting continued network upgrades and expansion. In the first nine months of 2025, EDP recorded investments of approximately €2.6 billion.

On the financial front, the company expects recurring net income of around €1.2 billion this year, with forecasts of €1.2–1.3 billion for 2026 and roughly €1.3 billion by 2028.

Recurring EBITDA is projected at €4.9–5.0 billion in 2026, rising to about €5.2 billion by 2028.

The investment plan responds to growing electricity demand — partly fuelled by the expansion of data centres in the U.S. — and positions EDP to strengthen its role in the global energy transition and expand its footprint in North America.

Nov. 6, 2025 3:54 p.m. 944
Tech

More Trending News

Featured Stories

Mamdani's Koh-i-Noor Comments Ignite Controversy
May 1, 2026 2:46 p.m.
New York City Mayor Zohran Mamdani is under fire for urging King Charles III to return the Koh-i-Noor diamond to India during his recent visit.
Read More
Critical Whale Shark Habitats Identified in Indonesia
May 1, 2026 2:43 p.m.
A decade-long study highlights vital year-round whale shark hotspots in Indonesia, advocating for enhanced protective measures.
Read More
Rising Costs and Delivery Delays Plague UK Factories Amid Iran Conflict
May 1, 2026 2:41 p.m.
UK factories are grappling with increased costs and delays due to the Iran conflict, straining global supply chains and economic stability.
Read More
Delay in Hajj Flights Due to Technical Issues
May 1, 2026 2:32 p.m.
A Saudi airline has postponed Hajj flights due to an aircraft fault, affecting pilgrims' travel plans and raising safety concerns.
Read More
Indonesia Limits Ride-Hailing Commissions to 8%
May 1, 2026 2:21 p.m.
President Prabowo's new policy reduces ride-hailing commission to 8%, enhancing driver earnings and mandating insurance for enhanced safety.
Read More
Strengthening Business Resilience: Dubai Chamber's Q2 Meeting
May 1, 2026 1:41 p.m.
Dubai Chamber convenes 64 groups to fortify business resilience and competitiveness amid evolving global dynamics.
Read More
Dubai Celebrates Erth Awards Recipients for Cultural Preservation
May 1, 2026 1:32 p.m.
Dubai honors Erth Awards recipients for their role in preserving cultural heritage, with over 25,000 entries representing community stories.
Read More
New Footage Unveils Attempted Attack at White House Dinner
May 1, 2026 1:31 p.m.
Footage released captures the moment a gunman tried to attack the White House Correspondents' Dinner, aiming at officials.
Read More
Pakistan Acts to Mitigate Middle East Tensions
May 1, 2026 1:28 p.m.
Pakistan enhances diplomatic efforts with Iran and the US to foster dialogue and stabilize the Middle East.
Read More
Sponsored
Trending News
DAE's First Quarter Financial Surge Sets New Highs

DAE's First Quarter Financial Surge Sets New Highs

Dubai Aerospace Enterprise sees record first-quarter revenue and profit growth, alongside a major ac
April 29, 2026 2:22 p.m. 203
Sony's PS5 Price Increase Set for Southeast Asia on May 1

Sony's PS5 Price Increase Set for Southeast Asia on May 1

Starting May 1, 2026, Sony will raise PS5 prices across Southeast Asia. Discover what this means for
April 28, 2026 2:42 p.m. 218
Potential Super El Niño 2026: Understanding Climate Threats

Potential Super El Niño 2026: Understanding Climate Threats

Is a Super El Niño on the horizon for 2026? Explore its potential effects and global climate implica
April 27, 2026 12:30 p.m. 261
Global Oil Supply Crisis Heightens Market Uncertainty | Prices Rise

Global Oil Supply Crisis Heightens Market Uncertainty | Prices Rise

Global markets are unsettled as oil supply issues escalate, driving prices up and impacting investme
April 24, 2026 2:51 p.m. 270
Must-See Attractions in London for Every Traveler

Must-See Attractions in London for Every Traveler

Explore London's top attractions from royal sites to cultural hubs, ensuring an unforgettable trip f
April 24, 2026 1:41 p.m. 285
2026 Flight Booking Tips: Secure the Best Rates

2026 Flight Booking Tips: Secure the Best Rates

Unlock the secrets to finding affordable flights in 2026 with these expert strategies and timing tri
April 23, 2026 2:12 p.m. 286
The Impact of Consistent Small Investments on Wealth Growth

The Impact of Consistent Small Investments on Wealth Growth

Discover how regular small investments can gradually enhance your financial future and create lastin
April 21, 2026 2:49 p.m. 286
Severe Earthquake Hits Japan: 7.5 Magnitude Triggering Tsunami Warnings

Severe Earthquake Hits Japan: 7.5 Magnitude Triggering Tsunami Warnings

A powerful 7.5 magnitude earthquake strikes Japan, leading to tsunami alerts and emergency evacuatio
April 20, 2026 3:16 p.m. 300