by Carolina Maia 25th October 2021
Chamber member EDP Renewables reaffirms its commitment to invest up to £13bn by 2030 in the UK’s energy transition plans

Last week (18th October 2021) Boris Johnson, the British Prime Minister, hosted the Global investment Summit in London announcing £9.7 billion of new foreign investment in green growth in the UK.

As part of this, our Chamber members the Portuguese company EDP, through its subsidiary EDP Renewables (Euronext: EDPR), the world’s fourth-largest renewable energy producer, has reaffirmed its role in the UK’s energy transition with plans to invest up to £13bn in the UK by 2030.

On the eve of the UK’s Global Investment Summit, Miguel Stilwell d’Andrade, CEO of EDP and EDPR, explained:

These plans to invest up to £13bn by 2030 underscore our commitment to the United Kingdom – a strategic market for the growth of the Group. We have an established position in the offshore market, now complemented by our entry into onshore, and we will explore any further opportunities that allow us to continue to play a leading role in the UK’s energy transition.

Last week’s Global Investment Summit in London brought together 200 of the world’s most prominent decision-makers and investors. 18 new trade and investment deals have been announced supporting the UK’s green growth agenda, together with the launch of the UK government’s new Investment Atlas which will showcase strategic investment opportunities in the UK.

The Global Investment Summit focused on the role of investors in the UK´s stated ambitions to become the world’s number one centre for green technology and finance, creating sustainable, high-quality jobs and helping the UK reach Net Zero.

The Chamber would like to acknowledge the work of the Department for International Trade (DIT) in Portugal, whose investment team is led by Ana Cristina Abreu and Emilia Baptista.

They have long supported Portuguese investments in the UK and will continue to do so as companies embark on an increasing number of low carbon projects, supporting the Prime Minister’s 10 Point Plan for a Green Industrial Revolution through decarbonisation.