Portuguese energy group EDP is investing €20bn globally to double its installed wind and solar capacity by 2026. Announcing its plans on March 2, the firm’s renewables unit said it will add more than four gigawatts per year across North America, South America Europe and Asia Pacific. 

The announcement is part of EDP’s revised 2026 business plan, which includes a €1bn capital raise and sees the group invest €4bn in its electricity networks.

“Today we ramp up our ambition to lead the energy transition supported by a competitive and resilient portfolio, strong financials, an empowered team and the will to contribute to a climate positive world for the coming generations,” said EDP’s CEO Miguel Stilwell d’Andrade.

Iberdrola and BP charge ahead

Spain’s Iberdrola and Britain’s BP will jointly invest €1bn in electric vehicle (EV) infrastructure across the Iberian peninsula. On March 2, the energy firms announced their plan to set up 11,700 fast-charging points in Spain and Portugal by 2030.

“By pooling our resources and expertise, we can deploy lower-carbon mobility solutions at scale for our customers,” said BP’s CEO Bernard Looney in a statement announcing the tie-up.

They aim to have the first 5000 charging points operational by 2025. The firms are also working together to expand EV charging infrastructure across the UK.

Apple doubles down in Munich

US tech giant Apple is ploughing an extra €1bn into its Silicon Design Centre in Munich, Germany. The capital commitment, announced on March 2, comes two years after Apple invested an equal amount in its design centre in the Bavarian capital, which is the firm’s biggest engineering hub in Europe.

“Apple has been in Munich for more than 40 years, and we’ve never been more excited about what the future holds here,” said CEO Tim Cook in a statement dated the same day. This latest investment will be made over the next six years and includes the design and construction of a state-of-the-art research facility.