EDP Renewables expands presence into Australia
Australia, 29 January 2024 – EDP Renewables (EDPR), a global leader in renewables, has expanded its Asia Pacific presence into Australia to tap into the country’s substantial growth prospects in renewable energy.
To fully enact its strategy and commitment to the market, the company has acquired local renewables player, ITP Development (ITPD). As an integral addition to EDPR, the ITPD team is now part of EDP Renewables APAC. Led by Australia Country Director Simon Franklin, the team is dedicated to the strategic growth and execution of EDPR’s initiatives in the market.
EDPR views Australia as a market with strong fundamentals and ample depth in renewables. Leveraging the company’s well-established presence in the Asia Pacific region, EDPR is poised to excel by capitalising on ITPD’s local expertise as well as deploying its global scale, technical proficiency, and energy management know-how to Australia.
“We are focused on greenfield development of sizeable wind and solar projects coupled with innovative storage solutions in Australia,” said Joāo Machado, APAC Executive Director for Business Development and Pacific & New Markets, EDP Renewables APAC. “We are confident that the Australia team will contribute to our vision of leading the energy transition in Asia Pacific,” he added.
The market entry is a strategic step that brings over 1.5 gigawatt (GW) of pipeline of wind and solar projects at various stages of development with options to co-locate battery energy storage systems (BESS) in the east of Australia, particularly in New South Wales and Queensland. The portfolio also includes a 480 megawatt-peak (MWp) solar photovoltaic system and 200 MW BESS project, which is at an advanced stage of development in Queensland.
Simon Franklin, Australia Country Director, EDP Renewables APAC, said: “We are now accelerating work on the development of the project in Queensland. This project is on track to be commissioned by 2026 and will contribute towards Queensland’s net zero ambition.”
EDPR is increasingly focused on markets with favourable decarbonisation opportunities like Australia, Singapore, and Japan, amongst few others. With clear routes-to-market, regulatory stability, and robust climate targets, these core markets enable value maximization in renewables and are positioned as strategic growth areas for EDPR in the coming years.