LISBON (Reuters) -Portugal’s largest utility, EDP, plans to invest 12 billion euros ($13.99 billion) between 2026 and 2028, mainly to expand its renewable capacity with a focus on the United States, the company said on Thursday. In its strategic plan through 2028, EDP also reiterated its recurring EBITDA target of around 4.9 billion euros for […]
Business
Portugal’s EDP to invest $14 billion in 2026-28, focuses on U.S. growth
Audio By Carbonatix
LISBON (Reuters) -Portugal’s largest utility, EDP, plans to invest 12 billion euros ($13.99 billion) between 2026 and 2028, mainly to expand its renewable capacity with a focus on the United States, the company said on Thursday.
In its strategic plan through 2028, EDP also reiterated its recurring EBITDA target of around 4.9 billion euros for 2025, putting it at 4.9–5.0 billion euros in 2026 and about 5.2 billion by 2028.
It expects recurring net income to reach around 1.2 billion euros this year, between 1.2 billion and 1.3 billion euros in 2026, and roughly 1.3 billion by 2028.
EDP said 7.5 billion euros would be invested by its renewable unit EDP Renovaveis – the world’s fourth-largest wind energy producer – in wind, solar and battery energy storage systems, “of which around 60% are in the United States”.
EDPR’s capacity is expected to increase to 25 gigawatts by 2028 from 20 GW now.
EDP, which operates in 29 countries across Europe, the Americas, and Asia, said the new plan was designed “in a context of increased demand for electricity, notably supported by increased data centre capacity in the U.S.”
Another 3.6 billion euros would be channelled towards electricity networks, mainly in Portugal and Spain.
In the first nine months of 2025, EDP invested around 2.6 billion euros.
($1 = 0.8575 euros)
(Reporting by Sergio Goncalves; editing by Andrei Khalip)