BY UE STUDIO

Updated Monday, February 19, 2024-18:27

  • Share on Facebook

  • Share on X-Twitter

  • Send by email

The

energy transition

has become the great revolution of our time, but it has set a deadline for us.

The impact of climate change

is increasingly evident and material, and we don't have to go too far to see it. We have closed

2023

as

the hottest year on Earth

since records began, with an alarming average temperature of 1.48 ºC above pre-industrial reference levels. Furthermore, according to data from AEMET, the World Meteorological Organization (WMO) and the Copernicus Climate Change Service,

last January was the warmest ever recorded

, both in Spain and in the rest of the planet.

Fires, floods, droughts, rising sea levels and rising water temperatures... there are many signs that climate change is leaving in its wake. The

European Union

, as a global leader in climate action, has committed to

achieving climate neutrality by 2050

. To achieve this objective, it is necessary to maintain the course set by its own Climate Law and by the Paris Agreement, in order to build a

sustainable and solid economy

in the face of climate risks,

free of fossil fuels

, with a

clean and technological industry. competitive

and, all of this, through a transition that is fair for everyone and leaves no one behind, ensuring a healthier and safer future.

Cruz de Hierro hybrid park (Ávila, Spain)

Thus, the

European Commission

recommends setting a target of

90% net reduction of greenhouse gas emissions by 2040

, compared to 1990 levels. Energy plays a fundamental role in achieving this, as it is one of the main sources of CO emissions. For this reason, it is necessary

to increase the penetration of renewable energies in the electrical system

, so that

wind

,

solar

and

hydraulic energy

replace fossil fuels; and

invest in ways to store the energy

provided by them to prevent it from being wasted and to be able to use it when necessary. The goal is to ensure that, by 2050, 90% of electricity comes from renewable sources and at least half of energy consumption comes from electricity.

COP28

, held at the end of 2023 in Dubai, achieved a historic global commitment to

abandon

fossil fuels and opt for renewable energy

. More than 130 national governments agreed to work together to triple the global installed renewable energy capacity to at least 11,000 gigawatts (GW) by 2030. And it is possible to achieve this, as global annual additions of renewable capacity are estimated to have increased almost 50% in 2023, setting the fastest growth rate in the last two decades.

The great challenges

Although they may vary from one country to another, it is undeniable that there are a series of

challenges that governments must face

to change this forecast and reach these 11,000 GW in 2030 and they can be summarized, mainly, in the following: the

lack of visibility on long-term policies

,

slowness in developing administrative responses

, as well as

insufficient investment

in grid infrastructure, preventing clean energy from being injected more quickly. Also the

administrative obstacles

, which make the authorization procedure cumbersome, the

problems of social acceptance

and the

insufficient financing

, both public and private, that emerging and developing economies receive. According to data from the International Energy Agency (IEA), addressing these challenges could mean a 21% increase in the growth of renewable energies.

Konary Hybrid Park (Poland)

If we think about

Spain

, we also identify other factors such as

inflation or geopolitical tensions

, which condition the pace of this implementation. Despite the great wealth of natural resources in Spain, our country is not the fastest when it comes to developing projects that contribute to achieving the energy transition. For example, the process of obtaining authorizations and permits to develop new projects in the time they need to be put into operation can take up to more than five years. All of this can also harm the arrival of new investments due to profitability.

Given this situation and with the purpose of meeting the objectives set by the energy transition, it is essential that there be a collaborative effort. This involves

combining private sector investment with appropriate government policies and societal commitment

. And the latter is something that affects both individuals and companies, which must actively participate in the transition for it to be successful.

EDP's role in the Spanish energy transition

One of the companies that has perfectly understood its role in this transition and that is already working to contribute to meeting its objectives is

EDP, considered the

most sustainable

utility

in the world according to the Bloomberg Sustainability Index for the 16th consecutive year. This global energy company operates across the entire value chain, from generation to distribution and supply of electricity; and

aims for 100% of its production to come from renewable sources by 2030

, currently at 87%.

EDP ​​aims for 100% of its production to come from renewable sources by 2030, currently at 87%.

In Spain

, EDP already has more than

5 GW of clean energy installed

, of which 2.2 GW correspond to solar and wind energy and 444 MW to hydro energy. Due to the quantity and quality of its natural resources, our country is one of the key markets for its business, which actively contributes to the acceleration of its decarbonization and to achieving the objectives of the Spanish energy transition. But... how does EDP help Spain overcome all these challenges we were talking about?

To begin with, it is helping to

enhance public-private collaboration

. At EDP they work together with institutions to accelerate the processes of granting rights, which is known in the sector as

permitting

; and, at the same time, to find the appropriate mechanisms for remunerating investments. At the same time,

they actively collaborate with the local communities

in which their projects are developed. However, where EDP has demonstrated its innovative and pioneering nature is in the incorporation of

new sustainable technologies that take advantage of existing infrastructure

: hybridization,

repowering

and over-equipment.

EDP ​​Renewables, a 100% renewable subsidiary of EDP

, has positioned itself as a pioneering company in

hybridization

, as it has been

the first to successfully connect and produce clean energy in the first hybrid park in Spain

, something it has also achieved in Portugal and in Poland. A hybrid pole is created by adding two or more renewable sources of electricity in the same substation. In these cases, wind and solar energy were combined. Thus, for example, if a solar plant is built on an existing wind farm,

its infrastructure is used and the production

of clean energy is maximized. It is also the case that, by not depending on new licenses, new forms of energy production can be introduced more quickly into the network, solving one of the sector's biggest concerns. Furthermore, the fact that both technologies are located at the same point

improves export and maintenance costs

, so that production is more profitable. EDP ​​has already put two hybrid centers into operation in 2024 and plans to put two more in our country.

Orgueirel Mina Hybrid Park (Sabugal, Portugal)

But its commitment to optimizing technology does not stop here. It should be noted that, despite the young age of EDPR's wind turbine fleet, the company is working on several pilot projects to

repower

or, if this is not possible, to

recycle wind blades

. In Spain, for example, it has managed to increase energy production in two wind farms by 75% thanks to repowering. Specifically, in the Zas and Corme wind farms, both located in La Coruña. For its part, in terms of

over-equipment

or technology that installs more wind turbines, the useful life of a wind farm is being

extended

, while supplying more clean energy to the grid more quickly, without the complexities associated with the development of new projects. .

Furthermore, in order to provide greater stability to the network and thus combat the intermittency of renewable sources, it does not stop searching

for storage opportunities

, key in the integration process of renewables because it manages

to combat the challenge of intermittency

of clean energy sources. Currently, EDP is developing an innovative project in the province of Cuenca, where a hybrid park will combine wind and solar energy and will also have a storage system so that the surplus energy produced can be reused whenever it is necessary. All these factors demonstrate EDP's ability to adapt and understand how the sector is changing. Renewables are not the future, they are already the present and EDP is already contributing to making the world a better place for future generations.

EDP ​​Business Summit 2024

After the success of the last edition of the

EDP Business Summit

, where more than 1,000 participants from more than 20 geographies gathered, the event returns this year with the aim of taking the conversation one step further, studying

how they can accelerate the energy transition both utilities like

the

rest of the companies

, from a global perspective. The latest technologies and business models that shape the energy future will also be analyzed. And all this with the aim of reflecting on the

greatest challenges and opportunities

that world leaders face when planning and executing their

decarbonization strategies

.


The third edition of the EDP Business Summit will study how both

utilities

and other companies can accelerate the energy transition and will analyze the latest technologies and business models that shape the energy future.

COP28 achieved a historic global commitment to abandon fossil fuels and opt for renewable energy and, at the same time, put on the table a unique opportunity to address other concerns related to energy security, profitability, economic growth and competitiveness. industrial, always pursuing the objective of guaranteeing a planet on which future generations can live.

But what does it take to achieve an energy transition that benefits everyone?

At EDP they are convinced that appropriate public policies, private sector investments, technological advances, consensual solutions and, ultimately, the commitment of society are needed.

All of this will be discussed on March 7 in Lisbon, during the third edition of this EDP Business Summit, a unique day with

internationally renowned speakers and conferences that will invite reflection and debate

. The company is firmly committed to continuing to raise public awareness about the benefits that renewable energies provide and is convinced that this event will contribute to raising awareness of the much-needed energy transition in Spain. But above all, he hopes it will drive collective decision-making, especially among decision-makers and business leaders, in the name of a cleaner, more sustainable future for all.

Made by UE Studio

This text has been developed by UE Studio, the creative branded content and content marketing firm of Unidad Editorial, for EDP.