Energy

Speed up renewables investment to guarantee energy independence: CEO

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A wind turbine in an energy park operated by EDP’s renewables unit, EDP Renovaveis, in Maunca, Portugal, on June 18, 2018.

Daniel Rodrigues | Bloomberg | Getty Images

The CEO of Portuguese utility EDP has linked the rapid adoption of renewables to Europe’s energy independence, telling CNBC that investment in the sector needed to be “much faster.”

“These are [indigenous] … resources — wind, solar — that we have in Europe,” Miguel Stilwell de Andrade, who was speaking to “Squawk Box Europe” on Friday morning, said. “So we would become less dependent on external sources of energy, whether it’s gas or coal.”

“I think the answer is, actually, we need to accelerate and do it much faster,…



Source cnbc.com

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