Portuguese EDP Renovaveis, the renewable energy arm of EDP - Energias de Portugal, will use Poland as a platform for further expansion to Romania and Bulgaria, the chairman of EDP, Antonio Mexia, said on September 4, 2008.
Romania and Bulgaria have a very strong potential for growth in the area of the renewable energy, according to the official. To enter these two countries, EDP Renovaveis will take advantage of the capacity that it is currently creating in Poland.
Poland is a strategic market for EDP Renovaveis and the company wants to lead it within two to three years. "We want to be the leaders on the key markets, the United States and Poland. The latter is the most important and of the biggest growth potential in central Europe," Mexia underlined.
The main rival of EDP Renovaveis in Poland will be Spanish utility Iberdrola. The value of the planned investments in the Polish market by EDP Renovaveis stands at 1.2 bln euro ($1.737 bln) in the coming years. They are to be spent on the development of over 1,000 MW of capacity. Of them, some 400 MW are expected to be operational in 2012.
Worldwide, EDP Renovaveis targets to run some 2.5 GW of wind power capacity in 2012. In order to achieve that objective, the company is studying the possibilities to use the United States as a platform for expansion to Canada, Mexico, Argentina and Chile.
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