EDP Energias de Portugal, which is majority owned by China Three Gorges (CTG), is set to invest 100 million euros in startups in the fields of climate change and energy transition between now and 2025.
Through EDP Ventures, the venture capital division of the EDP Group, the company aims to “invest globally in solutions that can have an impact on the business”.
The focus of investment will be companies whose viability has already been proven, and which develop solutions that contribute to responding to the challenges of climate change and energy transition.
The 100 million euros is double the 45 million euros invested in startups in the last decade. The company is looking for startups with a proven business model that are now in the industrialisation phase of their offer, CLBrief reported.
“The coming years will be a challenge for the energy transition and we want to face them with the best ideas at a global level,” said CEO of EDP Spain, Ana Paula Marqués.
This commitment is part of the company’s Strategic Plan until 2025, which contemplates “doubling EDP’s capacity in wind and solar energy, but also the development of increasingly efficient networks and the creation of more sustainable solutions for families and business”.