By Giulia Petroni

EDP-Energias de Portugal SA said Tuesday that it expects to shut down its coal power plants in the Iberia region that includes Spain and Portugal.

The Portuguese energy company said the process is estimated to represent an extraordinary cost of around 100 million euros ($113.4 million) that will be booked in 2020.

EDP said it is developing projects related to the energy transition in the regions where the coal plants are located.

In Portugal the company has submitted a generation license waiver for the Sines power plant to be effective in January 2021 and is developing a project to produce green hydrogen at the site.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 14, 2020 04:02 ET (08:02 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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