EDP Renováveis informs about PPA contract for solar project in US
Madrid, October 13th 2020: EDP Renováveis, SA (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, has closed a 15-year Power Purchase Agreement (“PPA”) to sell the energy produced by two solar PV plants totalling approximately 100 MW.
In detail, the projects located in the U.S. state of Ohio, are expected to commence operations in 2022.
Given EDPR’s current solar assets in operation and the 1.4 GW of new solar projects already contracted, EDPR’s portfolio will increase its technological diversification and reach 1.6 GW of solar capacity build-out by 2022.
With this new agreement, EDPR has now secured 85% of the ~7.0 GW targeted wind and solar global capacity build-out for the 2019-2022 period, as communicated in the Strategic Update on March 12, 2019.
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.