EDP launched units dedicated to green hydrogen and energy storage, as the Portugal-based utility became the latest global power big-hitter to target opportunities in the fast-growing segments.

EDP said its new H2BU hydrogen arm will develop green H2 projects, with a focus on energy-intensive industries such as steel, chemicals and cement.

The green hydrogen push will focus on Europe and the US, as EDP joins European peers such as Enel, Acciona and Iberdrola in looking to leverage its large-scale renewable generation fleet – operated by subsidiary EDPR – to help meet surging demand for the key energy transition fuel.