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.

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