EDP RENEWABLES signs new PPA for 99 MW in the US
Madrid, 3 November 2010: EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, through its fully owned subsidiary Horizon Wind Energy LLC (“Horizon”), has signed a 20-year Power Purchase Agreement (“PPA”) for a 99 MW wind farm in the PJM interconnection area, expected to be fully commissioned in 2011.
In 2010, EDPR already managed to close 385 MW of long-term contracts backed on an origination team with an accumulated experience of closing over 2,000 MW of PPAs.
EDPR in the US is focusing its growth to contracted capacity and expects to install 0.2 GW per year in 2011 and 2012. With this new contract, the expected capacity to be installed in the US for this period covered by long-term agreements, increases to 70%.
About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR), headquartered in Madrid, Spain, is a global leader in the renewable energy sector that designs, develops, manages and operates power plants that generate electricity using renewable energy sources. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years. Energias de Portugal, S.A. (“EDP”), the majority shareholder of EDPR, is a vertically-integrated utility company, headquartered in Lisbon, Portugal. Through its various constituent businesses, EDP holds significant electricity and gas operations in Europe, Brazil and the United States.