Madrid, February 12, 2019: EDP Renewables, SA (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, has been awarded a 15-year Power Purchase Agreement (“PPA”) to sell clean energy generated in the US state of Colorado. The agreement was signed with Tri-State Generation and Transmission Association, Inc., an association composed of 43 electricity cooperatives and public energy companies, and represents the fifteenth US state in which EDP Renewables is invested.
The wind farm, known as Crossing Tails, will have an installed capacity of 104 MW and will commence operations in 2020. It will produce enough electricity to power more than 47,000 average rural Colorado homes and will also bring economic benefits – including jobs, landowner and tax payments, among others – to the region.
Present in the United States for 12 years, the company is now beginning operations in its fifteenth state and is already present in California, South Carolina, Indiana, Illinois, Iowa, Kansas, Minnesota, Ohio, Oklahoma, Oregon, New York, Texas, Washington and Wisconsin. Thanks to this new agreement, EDPR now guarantees 1.2 GW of clean energy through long-term agreements in the US at projects to be installed in 2019 and 2020. Like in other regions of the country, EDPR will also be looking for future business opportunities in Colorado.
This type of agreement, known as PPAs, helps to foster the company’s low-risk profile, as well as its growth strategy thanks to competitive projects with long-term visibility.