Portugal’s EDP to invest 5 billion euros in production by 2012

27 January 2006

Lisbon, Portugal, 27 Jan – Portuguese electricity company EDP is planning to invest 5 billion euros by 2012 in increasing its production capacity for electricity, in Portugal and Spain, Portuguese financial daily Jornal de Negócios reported Thursday.

António Castro, EDP’s director-general told the paper that the company planned to invest, within 6 years, in increasing capacity by 6,000 megawatts, and that half of this capacity would be produced by combined-cycle power plants.

There largest part of the investment would be in wind energy, he said, as some 2.5 billion euros would be spent on setting up wind farms with a total capacity of around 2,200 megawatts.

The remaining 800 megawatts would come from large hydroelectric projects, Castro said, at a cost of around 1 billion euros, depending on the engineering project and specific conditions of each location.

EDP’s focus on cleaner energy should allow it to reduce its carbon dioxide emissions by 41 percent. (macauhub)