Madrid, August 1^st 2022: EDP Renováveis, S.A. (“EDPR”) has secured a long-term Power Purchase Agreement (“PPA”) to sell the clean energy produced by a 200 MWac solar capacity for a project in the US.

The project is located in the state of California, and apart from the 200 MWac of solar technology the project also has 150 MW of storage. The project is expected to enter operation in 2024.

With this new project, EDPR has now 10.8 GW secured out of the 20 GW target additions for 2021-25 announced in EDPR Capital Markets Day in February 2021. Additionally, this transaction enables EDPR to reach 5 GW of solar capacity secured for 2021-25 – both utility-scale and distributed – which compares with the 9 GW target for solar technology for the 2021-25 period.

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.

This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council.

 

EDP Renováveis, S.A.