EDP Renováveis, S.A. informs about new PPA for 80 MW in the US
EDP Renováveis, SA (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, secured a 20-year Power Purchase Agreement (“PPA”) to sell the renewable energy produced from its 80 MW Rising Tree wind farm project located in the state of California, expected to be installed in 2014.
With this new arrangement EDPR has already secured 0.4 GW of PPAs for projects to be installed in 2014-15.
EDPR continues to execute a flexible business and adjusting growth to most attractive countries. The development of wind energy in the US has been experiencing a more favourable environment following the extension in January 2013 of the Production Tax Credits (“PTC”) and is creating new growth opportunities for EDPR in the short-term.