EDP Renováveis is awarded long term contract for 140 MW at Brazilian energy auction
Madrid, November 13th 2015: EDP Renováveis, S.A. (“EDPR”), through its subsidiary EDP Renováveis Brasil, S.A. (“EDPR Brasil”), secured today a 20-year Power Purchase Agreements (“PPA”) at the Brazilian energy LER 2015 auction to sell electricity in the regulated market. The energy will be produced by a 140 MW wind farm to be installed in the Brazilian State of Bahia with operations expected for 2018. The initial price of the long term contract was set at R$199.37/MWh, indexed to the Brazilian inflation rate.
With this new contract, EDPR has already secured PPAs for 377 MW of wind energy projects in Brazil (currently under construction/development) to start operations in 2016, 2017 and 2018.
The successful outcome from this auction reinforces EDPR presence in a market with a low risk profile through the establishment of long term PPA, attractive wind resource and strong prospects for the wind sector in the medium and long term.