EDP Renewables (EDPR), a global leader in renewable energy, has extended its presence into Australia to take advantage of the country’s promising growth opportunities in renewable energy. In order to fully implement its strategy and commitment to the market, the company has acquired local renewables company ITP Development (ITPD), which is now part of EDP Renewables APAC.
EDPR sees Australia as a market with strong fundamentals and a significant depth in renewables. By leveraging its well-established presence in the Asia Pacific region, EDPR aims to excel in Australia by utilizing ITPD’s local expertise, as well as deploying its global scale, technical proficiency, and energy management know-how.
The company’s focus in Australia will be on developing large-scale wind and solar projects, along with innovative storage solutions. This strategic move brings over 1.5 GW of capacity, including a pipeline of wind and solar projects at various stages of development. There are also options to co-locate battery energy storage systems (BESS) in the eastern part of Australia, particularly in New South Wales and Queensland. Additionally, a 480MWp solar photovoltaic system and a 200 MW BESS project in Queensland are expected to be operational by 2026, contributing to Queensland’s net zero ambition.
Australia has ambitious decarbonization goals, making it one of the markets with significant potential in the region. With 38% of total electricity generation coming from renewables, the country aims to achieve 82% renewable power by 2030 and completely replace coal with renewable sources by 2040 by adding 26 GW of new capacity. Australia is also a leader in storage regulation and implementation.
EDPR is increasingly focusing on markets with favorable decarbonization opportunities, including Australia, Singapore, and Japan. These core markets offer clear routes-to-market, regulatory stability, and robust climate targets, allowing for value maximization in renewables. They are also strategic growth areas for EDPR in the coming years.
EDP Renewables has been present in the Asia Pacific region since 2022 and has already installed 1.3 GWp (905 MWac) in solar capacity across the region, including utility-scale projects and distributed generation. The company is also investing in innovative solutions, such as floating solar installations and solar and storage solutions for islands without grid access that currently rely on fossil fuels.
The Asia Pacific region is one of EDP’s four regional hubs, accounting for over 26 GW of installed capacity worldwide, with more than 22 GW in solar, wind, and hydro projects. The company aims to reach 50 GW of renewable energy by 2030 in order to become a fully renewable player.
