Portuguese electric utility company EDP has pledged to deploy 1.5GW of green hydrogen capacity by 2030 to help increase the use of the low-carbon energy resource for energy security and decarbonization.
EDP joins 28 large companies including Iberdrola, Enel, Engie, Shell, and Total, that have pledged to the World Business Council for Sustainable Development H2Zero commitment, which is designed to expand the deployment of large-scale green hydrogen projects globally.
EDP’s commitment will help decarbonize the Iberian Peninsula, the US, and Brazil, countries where the utility has operations. The pledge is expected to help EDP to expand its solar and wind energy infrastructure rollout as well.
The utility says it will take advantage of the proximity to industrial customers, favorable regulations, and availability of supporting infrastructure in the Iberian Peninsula, the US, and Brazil to accelerate its rollout of green hydrogen projects.
In addition to helping fight climate change, the projects EDP will deploy will enable the company to remain relevant by aligning its operations with changing business models, according to the company.
EDP has already set a target to install 250MW of hydrogen electrolyzers by 2025 in its Strategic Plan.
The pledge will enable EDP to achieve the goal of retiring its coal facilities by 2025 and net-zero emissions by 2030. EDP’s coal energy generation facilities will be converted into hydrogen centers as part of the plan.
Miguel Stilwell D’andrade, the CEO of EDP, says the pledge is an effort by his firm to accelerate the energy transition and speed up the mitigation of climate change.
D’andrade, added: “That’s why we aim to guarantee 100% renewable energy production by 2030 and we are taking concrete steps to support the decarbonization of all sectors of the economy.
“Renewable hydrogen will play a crucial role in this path and there is no time to waste. The time to strengthen ambition and make it happen is now.”
Source: Renewable Energy