EDPR secures a 74 MW solar project in the U.S. with a long term PPA
With this new agreement, EDPR has now secured 87% of the ~7.0 GW targeted wind and solar global capacity build-out for 2019-2022 period.
Madrid, November 24th 2020: EDP Renováveis, SA (“EDPR”), a global leader in the renewable energy sector and one of the world's largest wind energy producers, through its fully owned subsidiary EDP Renewables North America LLC, has secured a 74 MW Solar PV project with a 20-year Power Purchase Agreement (“PPA”).
In detail, the project is located in the U.S. state of North Carolina, and it is expected to commence operations in 2022.
Given EDPR’s current solar assets in operation and the 1.5 GW of new solar projects already contracted, EDPR’s portfolio will increase its technological diversification and reach 1.8 GW of solar capacity build-out by 2022.
With this new agreement, EDPR has now secured 87% of the ~7 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.