Madrid, July 24th, 2018: EDP Renováveis, SA (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, secured two 15-year Power Purchase Agreements (“PPA”) with a Commercial and Industrial (“C&I”) entity to sell the energy produced from its 125 MW Timber Road IV wind farm project.
Timber Road IV wind farm is located in the state of Ohio, US, and is expected to start operations in 2019.
Following these agreements EDPR has achieved 2.2 GW of wind energy long-term agreements in the US for projects to be installed in 2016-2020, which is above the target of 1.8 GW.
With these new arrangements, EDPR has now contracted c.3.8 GW of global capacity additions, exceeding the Business Plan target of 3.5 GW capacity additions for 2016-2020 period, as announced at EDP Group Capital Markets Day in May 2016.
EDPR's success in securing new PPAs reinforces its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility.
EDP Renováveis, S.A.