Brazil: plans to achieve 1GW photovoltaic installed capacity by 2025

    The Brazilian power company EDP (Energias do Brasil) aims to achieve 1 GW Generator Solat Kit of installed solar capacity by 2025.

    The company's financial director Henrique Freire revealed in an online meeting with investors that the company will cooperate with its sister company EDP Renovaveis and achieve growth in solar installed capacity through acquisitions and participation in tenders.

    Brazilian power company EDP is the power company of Energias de Portugal, the Brazilian branch of Portuguese utility company EDP. In addition to the auction of large-scale solar projects designed by the Brazilian government to regulate the market, it will also develop solar projects through EDP Renovaveis.

    According to Reuters, the company's new investment financing strategy also involves the sale of operating factories or transmission lines.

    Overall, the company plans to invest a total of 10 billion reals (1.84 billion US dollars) in the country between 2021 and 2025, of which 3 billion reals are planned for solar projects.

    According to its latest power report, by the end of the first quarter of 2021, EDP Group has 436 MW of renewable energy in Brazil through EDP Renovaveis.