EDP Renewables (Euronext: EDPR), the world's fourth largest renewable energy producer, was awarded 70 MVA of grid connection capacity at Alqueva in the floating solar auction in Portugal with a CfD (contract for differences) for a period of 15 years.

The grid connection capacity is expected to allow EDPR to install up to 154 MW of renewable capacity including 70 MW of floating solar PV under the above mentioned CfD, plus 14 MW of solar overcapacity and 70 MW of hybrid wind capacity, both excluded from the CfD. The project is estimated to be operational in 2025.

This project is a clear example of value creation through hybridization of renewable technologies and optimization of grid connection.
EDPR's success reinforces its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility, fostering the acceleration of the energy transition and the decarbonization of the economy.