EDP Renewables will continue to invest in the United States, despite the recent decision by the company to withdraw from offshore wind. This was revealed on Wednesday by CEO Miguel Stilwell de Andrade.

He said EDPR would maintain the 'planned investment of 4.5bn euros ($5.26bn)?in America over the next three year that was announcing in November. This'makes up about 60% of EDPR’s total investment until 2028.

The CEO said that EDPR is "very comfortable" in its 50-50 joint-venture with France's Engie Ocean Winds – which operates and develops off-shore wind projects accross multiple countries – and intends to re-purchase a stake.

He said that plans by Portugal to impose windfall tax on electricity producers "makes no sense", since they do not benefit from the higher natural gas prices caused by the Iran War.

(source: Reuters)