EDPR secures new PPAs for 100 MW wind farm in the US
Madrid, December 7th 2015: EDP Renováveis, SA (“EDPR”), through its fully owned subsidiary EDP Renewable North America LLC, signed long-term Power Purchase Agreements (“PPAs”) with commercial and industrial corporations, to sell the energy produced by 100 MW from Hidalgo wind farm extension.
Hidalgo wind farm project had initially secured two PPAs totalling 150 MW, as announced in Apr-2014. The project, that will now total 250 MW, is located in the State of Texas and is expected to be installed in 2016.
EDPR has now secured PPAs to invest in additional 200 MW of wind energy above its 2014-2017 growth targets presented in May-14, reinforcing 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 Dec-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.