{"id":9151,"date":"2023-10-30T11:00:26","date_gmt":"2023-10-30T10:00:26","guid":{"rendered":"https:\/\/www.b-comm.fr\/en\/?p=9151"},"modified":"2023-10-30T11:28:14","modified_gmt":"2023-10-30T10:28:14","slug":"edp-accelerates-delivery-of-its-coal-free-commitment-with-conversion-of-abono-plant-and-request-to-close-remaining-spanish-coal-assets","status":"publish","type":"post","link":"https:\/\/www.b-comm.fr\/en\/2023\/10\/30\/edp-accelerates-delivery-of-its-coal-free-commitment-with-conversion-of-abono-plant-and-request-to-close-remaining-spanish-coal-assets\/","title":{"rendered":"EDP accelerates delivery of its coal free commitment with conversion of Abo\u00f1o plant and request to close remaining Spanish coal assets"},"content":{"rendered":"<ul>\n<li>The conversion of the Abo\u00f1o II coal plant to gas fired is a significant step in EDP\u2019s consistent journey towards full decarbonization of its portfolio.<\/li>\n<li>Next steps also include a partnership with Corporaci\u00f3n Masaveu through the sale of a 50% stake in Abo\u00f1o and the request to the Spanish authorities to close Abo\u00f1o I, Soto 3 and Los Barrios coal plants.<\/li>\n<\/ul>\n<p><strong>Madrid, October 27, 2023.<\/strong> EDP Renewables main shareholder, EDP, is accelerating the delivery of its coal free commitment by 2025 with reinforced plans for the group\u2019s remaining coal plants in Spain. These decisions represent yet another relevant step in the company\u2019s journey towards full decarbonization of its generation portfolio, following the disposal of the Pec\u00e9m coal power plant in Brazil and the shutting down of Sines plant, in Portugal.The decisions taken regarding the Spanish coal assets include:<\/p>\n<ul>\n<li>Conversion of the Abo\u00f1o II thermal plant in Spain, from coal into gas fired, expected to occur by middle of 2025;<\/li>\n<li>Establishment of a new partnership with the Asturian based industrial Group Corporaci\u00f3n Masaveu, through the sale of a 50% stake in Abo\u00f1o, for an Enterprise Value of c.\u20ac350 million and an Equity Value of \u20ac60 million for 100% of the asset;<\/li>\n<li>Authorization requested from the electricity system operator (Red El\u00e9ctrica) to close Abo\u00f1o I coal plant, as well as EDP\u2019s last remaining coal plants in Spain (Soto 3 and Los Barrios).<\/li>\n<\/ul>\n<p>Abo\u00f1o consists of two coal groups (Abo\u00f1o I and II) with a combined capacity of 904 MW, near Gij\u00f3n and the port of Musel, which play a key role in supporting the security of electricity supply to the Asturias region.<\/p>\n<p>The new EDP\/Corporaci\u00f3n Masaveu industrial partnership, consolidated by EDP through equity method, foresees joint control in the management of Abo\u00f1o and transfer of liabilities related to the power plant. It reinforces the commitment to Asturias together with an industrial partner with a strong regional presence, maintaining the conditions of all the people working at the facility.<\/p>\n<p>EDP will retain full ownership and development of the Just Transition projects in Abo\u00f1o, such as hydrogen and renewables projects.\u00a0The Asturian green hydrogen valley, in Abo\u00f1o, is one of the most important projects in Europe in this field and has obtained IPCEI accreditation from the European Union. It is also the only project in Spain included in the four support channels that the European Union has for projects related to green hydrogen: Innovation Fund, IPCEI, H2 pioneers call from the Spanish recovery plan and H2 value chain call from the Spanish recovery plan.<\/p>\n<p>EDP has committed to being coal free by 2025, 100% renewable by 2030 and net zero by 2040,\u00a0leading the energy transition to create superior value and ensure a more sustainable future for all.<\/p>\n<hr \/>\n<h3>About EDP Renewables (EDPR)<\/h3>\n<p>EDP Renewables (Euronext: EDPR) is a global leader in the development of renewable energy with presence in 28 markets across Europe, North America, South America and Asia Pacific. Based in Madrid and with main regional offices in Houston, S\u00e3o Paulo and Singapore, EDPR has a robust development portfolio with first class assets and a market-leading operational capability in renewables. Wind onshore, utility scale &amp; distributed solar, wind offshore (through its 50\/50 JV &#8211; OW) and technologies complementary to renewables, such as batteries and green hydrogen.<\/p>\n<p>EDPR&#8217;s employee-focused policies have seen them named a 2023 Top Workplace in the United States and a 2023 Top Employer in Europe (Spain, Italy, France, Greece, Romania, Portugal and Poland), Colombia and Brazil, as well as their inclusion in the Bloomberg Gender-Equality Index.<\/p>\n<p>EDPR is a division of EDP (Euronext: EDP), a leader in the energy transition with a focus on decarbonization. Besides its strong presence in renewables (with EDPR and hydro operations), EDP has an integrated utility presence in Portugal, Spain and Brazil including electricity networks, client solutions and energy management.<\/p>\n<p><strong>\u00a0<\/strong>EDP \u2013 EDPR\u2019s main shareholder \u2013 has been listed on the Dow Jones Index for 14 consecutive years, recently being named the most sustainable electricity company on the Index.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The conversion of the Abo\u00f1o II coal plant to gas fired is a significant step in EDP\u2019s consistent journey towards full decarbonization of its portfolio. Next steps also include a partnership with Corporaci\u00f3n Masaveu through the sale of a 50% stake in Abo\u00f1o and the request to the Spanish authorities to close Abo\u00f1o I, Soto [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":8375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5851,5828],"tags":[],"class_list":["post-9151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5851","category-edpr"],"_links":{"self":[{"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/posts\/9151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/comments?post=9151"}],"version-history":[{"count":2,"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/posts\/9151\/revisions"}],"predecessor-version":[{"id":9154,"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/posts\/9151\/revisions\/9154"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/media\/8375"}],"wp:attachment":[{"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/media?parent=9151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/categories?post=9151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.b-comm.fr\/en\/wp-json\/wp\/v2\/tags?post=9151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}