Portugal’s principal electricity operator EDP announced on Thursday that it is to invest up to 12 million euros (14.37 million U.S. dollars) in East Africa over the next three years.
According to a press release sent by EDP to the Lusa Portuguese News Agency, the investment forms part of EDP’s push to decentralize its energy production and promote universal access to sustainable energy.
“The investment will be made in companies that are already established or up-and-coming,” and enable EDP to become “a significant operator in emerging markets,” read the company’s statement.
To this end, EDP will focus on bringing renewable energy to off-grid, rural areas.
EDP will also invest a further 1 million euros on social responsibility initiatives. “This investment will impact upon 200,000 people, most of them in developing countries,” said EDP.
The investments form part of EDP’s “A2E — Access to Energy” scheme. Since launching A2E in 2009, EDP has invested 5 million euros in projects in countries such as Kenya, Angola, Guinea-Bissau and Benin. (1 euro=1.2 U.S. dollar)