EDPR acquires Australian renewables developer ITPD
EDP Renewables (EDPR), a subsidiary of Portuguese energy company EDP Group, has acquired ITP Development (ITPD), enhancing its footprint in Australia.
With the acquisition, EDPR adds a portfolio of more than 1.5GW, with a focus on wind and solar projects.
The projects, located in New South Wales and Queensland, are at varying stages of development.
They include a 480MW solar photovoltaic system and a 200MW battery energy storage system (BESS) project in Queensland, which will be operational by 2026.
EDPR’s expansion in Australia is a strategic move to leverage the country’s robust growth prospects in renewable energy.
Australia is seen as a market with a solid foundation and depth in renewables, and EDPR aims to utilise its global scale and expertise to maximise the potential of ITPD’s local knowledge.
