ScienceBased Targets initiative
Initiatives we are part of
Our CEO Chairs the Administrative Board of the SE4All : https://www.seforall.org/about-us_administrative-board
WindFloat focuses on EDP’s strategic goal on the deployment of an innovative technology that will allow the exploitation of wind potential at sea, at depths of more than 40m.
The location, many miles out into the open ocean, reduces the incidence of NIMBY (not in my backyard) concerns, and more importantly, wind resources are generally higher offshore, particularly in deeper waters. As an example, the offshore wind resource in Europe is very attractive (load factor > 3.000h) and ~65% is mostly transitional and deep water, delivering an energy potential above 700TWh.
The innovation focus of the project was the conception of a floating foundation, semi-submersible, anchored to the seabed. The WindFloat system adapts to any type of offshore wind turbine and it is built entirely onshore, thus avoiding the use of scarce marine resources.
A consortium was established and a prototype project of a 2MW turbine was tested from 2011 to 2016. Several partnerships were established to implement it including designing, producing, installing and operating off-shore wind turbines.
The project constituted the first offshore wind deployment worldwide, which did not require the use of heavy lift equipment offshore. It was the first offshore wind turbine in open Atlantic waters and the first deployment of a semi-submersible structure supporting a multi-megawatt wind turbine. At 6km off the Portuguese coast, in a 40-50m water depth and operating in very challenging sea conditions (surviving waves of 17m), Windfloat#1 was decommissioned safely with negligible impact to the environment.
Since 2016, EDP has lead a consortium of private international renewable investors, and is now developing pre-commercial floating offshore projects in France, "Leséoliennes flottantes du golfe du lion" (24MW) and Portugal with “WindFloatAltantic” in Viana do Castelo (25MW), with strong institutional support, mainly, European funding. These projects aim to demonstrate the low risk profile and economic competitiveness of the technology.
At the beginning of 2018, the Redwood Coast Energy Authority (“RCEA”), in the USA, selected the first commercial scale Windfloat consortium paving the way for offshore wind energy off the West Coast. The proposed project is a 100-150 megawatts floating offshore wind farm planned to be located more than 20 miles off the coast of Eureka. The success of this project will clearly unlock the potential of this innovative technology around the world.
Save to Compete
Companies are increasingly looking for energy efficiency solutions as a competitiveness and technological evolution of their businesses and EDP provides a tailormade value proposition, contributing to an overall challenge of decarbonizing the economy, towards a net zero emissions in the second half of the century.
The Save to Compete (S2C) is a program created by EDP in 2012, which promotes energy efficiency, competitiveness and innovation in SMEs and large companies in the Portuguese and Spanish industrial sectors. Through an innovative business model, this project allows them to pay the investments in solutions of energy efficiency with the savings generated over time by these investments. This prevents the beneficiary company from having the need to invest directly, thus not jeopardizing the financial resources necessary for the growth of its business.
This pioneering project, with an innovative approach and an important aspect of environmental sustainability, has a great digital component.
Throughout the entire life cycle of the customer involvement, this digital component of Save to Compete plays a central role: from the simulation of savings estimates to submission of the application,through the selection of energy efficiency measures (similar to a process purchase from an online store).
By accessing the S2C platform, companies have access to concrete and customized energy efficiency proposals and their potential for savings. The potential savings for a particular company are broken down by measure: solar energy, efficient lighting, consumption management, increased voltage level, high performance motors, power factor correction, electronic speed variators and compressed air. The greater the number of measures selected, the greater the savings potential of the company.The application can also be submitted through the platform, and the project isthen subject to evaluation by EDP and subsequently implemented.
Over the years, the growth in the number of partners, including the largest Portuguese and Spanish associations, has helped to promote the Save to Compete program and to attract an ever-increasing number of companies. In addition to the savings of more than 26million euros (266 thousand MWh), CO2 emissions were reduced by more than 98 thousand tons. These results are disclosed and being updated online in the Save to Compete website (www.savetocompete.com). Using this Program, EDP aims to surpass 1 TWh of energy savings until 2020 and scale this model to new markets, such as Brazil where is already being tested.
Öhman has been managing ethical funds since the mid-1990s. It is now taking a big step forward by evolving its entire range towards responsible investment.
Bezobalu is a nonprofit organization based in Prague, that seeks to prevent waste. It spreads the idea of Zero Waste among the general public .
Atlas Infrastructure is a specialist investment manager focusing on listed infrastructure securities. ATLAS specifically incorporates climate change and social factors in its company models through a purpose built scenario analysis. These factors directly impact our investment decisions.