EDP says renewables can cut power costs despite needed grid upgrades

Portugal's energy group EDP, marking 50 years of operation, said that renewable sources can deliver cheaper electricity even though extensive investments in electricity networks are required. Over the past five years the company raised about €4.5 billion for its subsidiary EDP Renewables, boosting net profit from roughly €800 million to €1.3 billion.

EDP highlighted its wind portfolio in Poland, where it has installed more than 1 GW of on‑shore capacity and, through a joint venture with Engie called Ocean Winds, plans to commission the 390‑MW offshore BC‑Wind farm by 2028. The firm criticised Poland’s restrictive distance‑law regime for on‑shore wind and urged regulatory reforms to ease new permit approvals. It also denied that the recent Iberian Peninsula blackout was caused by renewable generation.

The statements underline EDP’s confidence in expanding renewable assets while calling for policy changes and grid investment across Europe.