EDP Renováveis consortium is awarded with long-term CfD for 950 MW in UK

edpr announcement

EDP Renováveis consortium is awarded with long-term CfD for 950 MW in UK

Monday 11, September 2017

EDP Renováveis consortium is awarded with long-term CfD for 950 MW of wind offshore in UK

Madrid, September 11th 2017: EDP Renováveis, S.A. (“EDPR”) is pleased to announce that Moray Offshore Windfarm (East) Limited (“MOWEL”), a joint venture company currently owned by EDPR (77%) and ENGIE (23%), was awarded by the UK’s Department for Business, Energy & Industrial Strategy (“BEIS”) with a 15-year Contract for Difference (CfD) for the delivery of 950 MW of offshore wind generation at £57.5/MWh (2012 tariff-based).

Upon completion of the development phase, and the selection of all the partners and suppliers for the different stages of construction and operation, the consortium may move forward beginning construction of the offshore wind farm project, which is expected to be completed until 2022.

With today’s announcement EDPR increases its growth options in the wind offshore in an attractive market, thereby enhancing and diversifying the company’s long term profitable growth options while maintaining a balanced risk profile.

EDP Renováveis, S.A.