EDPR secures PPA for new 100 MW wind farm in the US to be installed in 2015
EDP Renováveis, SA (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, signed a 20-year Power Purchase Agreement (“PPA”) with Lincoln Electric System to sell the renewable energy produced from its 100 MW Arbuckle Mountain wind farm project located in the state of Oklahoma, expected to be installed in 2015.
With this new arrangement EDPR has already secured 300 MW of PPAs for projects to be installed in 2014-15.
EDPR continues to execute a flexible business model and adjusting growth to the 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.
About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR), headquartered in Madrid, Spain, is a global leader in the renewable energy sector and the world’s third-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, Poland, Portugal, the UK and Romania). Energias de Portugal, S.A. (“EDP”), the majority shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX).