EDP CEO Sees Energy Shock From War Fueling Clean Power Demand

Portuguese utility EDP SA expects the surge in oil and gas prices caused by the war in the Middle East to boost demand for renewables, as countries and businesses seek to diversify their sources of energy and shield themselves from external shocks.

“It highlights how important it is to be diversified from an energy perspective,” Chief Executive Officer Miguel Stilwell de Andrade said in a Bloomberg Television interview on Tuesday. “We’ve been seeing that push and we think that will be strengthened by what we’re seeing today.”