EDPR secures additional growth by signing PPA for new 100 MW wind farm
Madrid, November 20th 2015: EDP Renováveis, SA (“EDPR”), through its fully owned subsidiary EDP Renewable North America LLC, signed a long-term Power Purchase Agreement (“PPA”) with Amazon Web Services, Inc. (AWS), an Amazon.com company, to sell the energy produced by a 100 MW wind farm in the State of Ohio, with construction expected for 2016.
Following this agreement EDPR will build an additional project above its 2014-2017 growth targets presented in May-14, and reinforces the company strong capabilities in the developing of valuable growth opportunities with low risk profile. The competitiveness of wind energy supported on strong technological evolution and its development in the US continues to experience a favourable environment following the extension in December 2014 of the Production Tax Credits (“PTC”).
EDPR will continue to execute its growth strategy based on the development of competitive projects with long-term visibility, while maintaining an ongoing strong focus in maximizing efficiency and fulfilling the objectives of its self-funded growth complemented with its Asset Rotation strategy.