EDPR enters Australia, acquires 1.5 GW renewable assets

The company purchased local renewables company ITP Development.

Global renewable energy from EDP Renewables (EDPR) expanded to Australia and acquired local renewables firm ITP Development, including 1.5 gigawatts (GW) of renewable energy assets.

In a statement, EDPR said Australia is a “market with strong fundamentals and ample depth in renewables,” noting that will focus on developing wind and solar projects, as well as storage solutions in the country.

The acquired 1.5 GW renewable projects include a pipeline of wind and solar projects in different development stages with the option to co-locate battery energy storage systems (BESS) in the east, particularly in New South Wales and Queensland.

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It also includes 480 megawatt-peak solar systems and 200 megawatts of BESS in Queensland which are at advanced development stages. The project is expected to come online by 2026.

EDPR has installed 1.3 gigawatts of solar capacity in the Asia Pacific since 2022.