© EDP The floating solar panel field at the Alciva dam in Portugal.Climate was, as always, a topic of discussion at the World Economic Forum (WEF) in Davos in 2023, where discussions focused on the potential impact of new technologies to turn the threatened planet upside down.
Miguel Stilwell, CEO of EDP – one of the world's leading energy suppliers and investors in renewable energy – spoke to Euronews Next on the sidelines of Davos about the technologies needed to tackle the climate crisis.
That's what he said.
euronews: The main point on the Davos agenda is the climate crisis and the sharp rise in energy prices. How does EDP fit into this landscape?
Miguel Stillwell: EDP is a global renewable energy company, so I think they have a critical role to play in this energy transition that is happening. I think it has been accelerated now with the war in Ukraine and this new focus not only on the environment, but on the issue of energy security and energy independence and how we are going to lower costs. That is why we have been active in the renewable energy sector for more than 20 years, during which time we have invested in various regions of the world. Of course Europe is our main market. We therefore continue to invest to ensure that we can deliver lower costs, energy security and lower emissions.
EN: Renewable energy is an important part of the climate crisis and how to deal with it. What is being done in renewable energy that is really noteworthy that we should know?
Michael: For the last 20 years we have been a major player in the renewable energy sector. We invest in onshore and offshore wind and solar energy. And there's a lot of innovation, I think, that's happened in the last few years in the industry, and we've been at the forefront of that.
In terms of foreign operations, we have a large portfolio in both Europe, Scotland, France and Poland, but now also in the US on the east coast of California. Therefore, many marine technologies are more mature. But even in the marine industry, floating marine technologies are also beginning to be adopted. And in that we were at the forefront of solar energy.
We've focused not just on your standard solar, but also on things like floating solar, like on dams or in the ocean. We have a project in Singapore, and there is also a kind of floating solar power, so we combine these different technologies. So I think EDP also has a strong track record of trying to use infrastructure as efficiently as possible by combining wind and solar at one connection point. So these are all different innovations that happened and we were at the forefront of that.
EU: And in Europe too? He recently opened the Alceva Dam in Portugal. Recently, Portugal has had drought problems. How does it contribute to this situation and also to Portugal's energy production?
Michael: Last year Portugal suffered its worst drought in a century. Fortunately, things have changed now. We have had a lot of rain. However, what we do in addition to using the dams we have in Portugal, we install solar panels. ¨
For example, you mentioned a floating solar cell. Alceva is Europe's largest man-made dam with a floating solar panel. It also combines it with the wind and connects everything with the existing hydroelectric plant. I have developed three different techniques to manage the same hotspot. This is just an example.
EU: As the climate crisis and renewable energy are high on the agenda of the World Economic Forum, what message will you take to Davos? Are people listening to the message you are conveying?
Michael: I think the main message is that the energy transition is essential. We need to do this for all the right reasons: energy transition, climate change, energy independence and because it reduces costs. This is the main message. And maybe we have the technology, and we have the capital. We need to increase it.
It is about having stable regulatory systems and appropriate price signals to unlock the full potential or commercial potential and to ensure that we can achieve a combination of public policy and private initiative. And I really think it's an existential problem that we all need to address and we need to bring all the different stakeholders together to do that.
euronews: One of the criticisms of Davos is that people don't listen and the cooperation is not always there. See what the future holds for renewable energy and the climate crisis?
Michael: Listen, we have to do it and we have to do it fast. So what do we do? I think it's frustrating sometimes. The pace didn't seem fast enough. I am an optimist. I think we will get there.
But we have to keep pushing the message. We need to make sure everyone is focused on getting things done. So it's not just talk, it's not just words, but we're already doing it with tangible projects, which make cleaner and cheaper energy possible for all consumers.
