EDPR secures PPA for new 100 MW wind farm
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.