EDP Renováveis S A : EDPR signs a new partnership in the storage sector in France

EDPR signs a new partnership in the storage sector in France

Monday 24, June 2024

Renewable Energy

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Renewable Energy

The newly acquired BESS project showcases EDP Renewables' commitment to invest in co-development and partnerships;

EDP Renewables invests in a new segment of the energy transition in France and further diversifies its portfolio of deployable technologies.

EDP Renewables, a leading player in renewable energy, continues its strategic development through investments in new technologies. The company is expanding its portfolio in France through organic and partnership development that can support the efforts of public authorities and private actors in their decarbonization path.

The new partnership will focus on developing a 50 MW standalone battery facility that will be directly connected to the national electricity transport network. This project will support the efforts of the Transmission System Operator (TSO) to ensure a constant balance between electricity production and consumption at every hour of the day. The expansion of energy storage assets is key to achieving national decarbonization objectives, as it allows the system to depend further on electricity produced by renewable sources.

"As a global player in renewable energy, we see all the potential of storage both from the producers' side and that of the network operators. Batteries allow for an essential flexibility. We are very satisfied with this new partnership as it highlights our commitment to find new partners for co-development in the market." declares Etienne Thomassin, Country Manager of EDP Renewables in France.

This partnership represents a milestone for EDP's strategy, as it demonstrates its commitment to constantly find new levers of deployment. The M&A segment of the French market is on a dynamic trend and EDP Renewables intends to play an active role in its acceleration.

EDP Renewables takes key steps in its renewable generation capacity in France at a sustained pace, structured around two axes - after reaffirming its historic positioning in the wind sector, the company is heavily investing in the diversification of new technologies. Through a series of initiatives, the company has been positioning itself on utility scale photovoltaics, on distributed generation - as evidenced by the recent partnership with the Decathlon group - on hydrogen through the stake taken in Lhyfe, and now on battery storage with the recently signed partnership.

As a developer, operator, and producer, the addition of this flexibility brick is a development axis on large international markets. In total, 500MW of storage are forecasted by 2026. The coming years will see the development of an increasing number of projects of this type, both in-house and in partnerships and co-developments.