EDPR enters its 14th global market through a wind energy project in Colombia
Tuesday 19, March 2019
The company is arriving in Colombia after winning two new contracts to build wind farms with a total of 492 MW.
Madrid, March 19th 2019: EDP Renováveis has secured two 20-year contracts at an auction organized by the Colombian Government for the construction of wind farms. The contracts refer to the Alpha (212 MW) and Beta (280 MW) onshore wind projects, which are currently being developed by EDPR and have an expected commercial operation date in 2022.
The reliability auction was carried out within the framework of the reliability auction set to guarantee security of supply, with projects being remunerated for the stability to the electricity system, in addition to the electricity they produce. EDPR will now now seek to secure long term power purchase agreements with third parties (known as PPAs) to sell the electricity produced by both farms.
With these projects, EDPR increases its worldwide footprint by entering a new country with a growing energy demand, strong wind resources and sustainable development of its renewable energy sources.
Colombia is EDPR’s 14th market and the 3rd in Latin America, after Brazil and Mexico. As of December 31st, EDPR managed an installed capacity of 5,729 MW throughout the entire American continent (including its operations in Canada and the US).
As part of its growth strategy, EDPR continues to study worldwide opportunities while developing profitable projects focused in countries with low risk profiles and regulatory stability.