Post by : Badri Ariffin

EDP, Portugal’s largest energy group, has announced a €12 billion investment programme covering 2026–2028 that prioritises the expansion of renewable capacity, with a strong emphasis on opportunities in the United States.

About €7.5 billion of the package is earmarked for EDP Renováveis (EDPR) — one of the world’s leading wind producers — to fund new wind, solar and battery storage projects. Roughly 60% of that renewable spending will be directed to the U.S., supporting a planned rise in EDPR’s installed capacity from around 20 gigawatts today to 25 GW by 2028.

EDP has also set aside €3.6 billion for electricity grid investments, mainly across Portugal and Spain, reflecting ongoing upgrade and expansion work. In the first nine months of 2025 the group invested approximately €2.6 billion.

On the earnings front, EDP expects recurring net income near €1.2 billion this year, with forecast ranges of €1.2–1.3 billion in 2026 and about €1.3 billion by 2028. Recurring EBITDA is projected at €4.9–5.0 billion for 2026, rising to roughly €5.2 billion by 2028.

The investment strategy responds to growing power demand globally, partly driven by the expansion of data centres in the U.S., making international markets central to EDP’s growth trajectory.

This €12 billion roadmap reinforces EDP’s role in the global energy transition while strengthening its footprint in North America’s renewable sector.

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