Monthly Report

EDP Renewables to invest 20 billion yen in Japan by 2026, now working on 44MW solar power plant in Fukushima

July 10, 2024
EDP Renewables
EDP Renewables has significant presence in the Asia-Pacific region. (Image: EDP Renewables)

Portugal’s largest utility EDP announced plans to invest approximately 20 billion yen in over 200MW of renewable assets in Japan by 2026 at a press conference held in Tokyo on July 2, 2024. As the first step in that process, the company’s subsidiary EDP Renewables is currently working on a 44MW (DC)/35MW (AC) solar power plant in Matsukawa Town, Fukushima Prefecture.

The solar power plant in Fukushima, which will be used to supply approximately 47GWh/year directly to an offtaker through a PPA, is being developed on a 60ha piece of land that previously served as a golf course. The project is expected to commission in the third quarter of 2025. It was first announced in September 2023.

While the company has announced the project will use approximately 63,000 solar panels, it has not announced which company will provide those. It has not disclosed the name of the offtaker either.

EDP’s investment in the Japanese market is part of its broader target to invest 12 billion Euros in renewable energy globally between 2024 and 2026 and to grow its Asia-Pacific renewable asset portfolio from the current 950MW to at least 5GW by 2030. In addition to developing solar power plants in Japan, it also has plans to invest in battery storage in the country.

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