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EDP, a Portuguese Utility Company, Sets the Development Target of 1GW Energy Storage in 2026

Release date:2021-02-23 Source:Raytech Pageviews:-

EDP, a Portuguese utility, will strive to develop its energy storage and green hydrogen business through two independent business units focusing on technology development, as reported on February 22.

Among them, the Energy Storage Department will be related to the business of EDP Renováveis (EDPR) in the United States, and will be committed to the development of energy storage technology, with the goal of achieving 1GW energy storage capacity by 2026.

The company said the combination of renewable energy for power generation and electrification of consumption "will be the most cost-effective way to decarbonize most end use energy sources. But if we want to achieve the carbon neutral goal, we will need to use other energy carriers, such as green hydrogen, for industries where electricity is not technically feasible or economically attractive. "

According to the green hydrogen strategy announced by the European Union last year, at least 40 GW of renewable energy hydrogen electrolyzers will be needed by 2030, which will require 80-120 GW of solar power generation and wind power capacity.

Ningbo Raytech New Energy Materials Co., Ltd. specializes in “PV Modules Manufacturing and System Integration” and “Smart Panel Materials Manufacturing”. The company has independent product R&D teams, national key laboratory and 1.2GW full-automatic manufacturing line. Raytech Double-glass modules come with 12-year product warranty and 30-year performance warranty (2 years and 5 years longer than industry's standard product / performance warranty respectively).


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