| | MAY 20229CIOReviewPortugal in August 2020, we saw how the price of a PPA was improved again in an auction. The result was 0.0112 euros per kWh."This fact forces companies to consider innovation as a necessity and not as an option." Innovation ­ contribution of value For EDP Renewables, innovation is part of our strategy and it is a basic pillar of our vision as a company. For us, it is clear that in order to continue being a reference point in photovoltaic solar energy today, we have to live and breathe the culture of continuous change, constant improvement and the pursuit of excellence. This certainly plays a part in our success as a world leader in renewable energy.Personally, I like to say that innovation seeks a future solution for a present problem. For a business, the only real motivation behind innovation is economic improvement, but what is economically improved by innovation in a solar photovoltaic plant? The answer is clear and can be divided into two aspects. The first is the decrease in CAPEX, which implies less investment per MW installed, and places less money at risk. The second leads to an increase in generation hours, which will result in a faster investment return, further increasing the financial return. We can achieve this by enhancing efficiency or improving O&M. When it comes to putting together the technical solution puzzle with pieces manufactured by other market players, it is very important to stay close to the source. The wide spectrum of technological possibilities allows you to create clear and strategic premises to understand where the clear improvement options are, and who has the capacity to provide them to you and in which way. Therefore, proximity to the manufacturers is vital for EDP Renewables as it is important that they understand your problems and that we can count on their solutions so that the puzzle pieces fit together perfectly, starting with engineering.To implement this philosophy on a daily basis, EDP Renewables has created an inter-departmental work team. They are responsible for making and transmitting the market information and initiatives across the different geographical platforms with the clear purpose of keeping all teams connected.The value of the solution ­ each kWh adds up, every euro counts. For an increasingly aggressive business with tight margins, it is essential to analyze the current situation carefully with as much effort as possible. This allows us to identify the weight of our technical and technological decisions and thus seek current innovations in order to minimize the uncertainties and maximize the certainties. In this way, we have a better chance of understanding where the value contribution is, to in turn identify and work on our key partnerships in order to be as competitive as possible. Every kWh adds up, every euro counts. Miguel Angel Hidalgo Gonzalez
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