EDP Renewables is awarded 490 MW in Colombia
Colombia becomes EDPR’s 14th global market and the focal point for the consolidation of its business in Latin America after being awarded two 15-year PPA contracts
Madrid, 22 October 2019: EDP Renewables (Euronext): EDPR, a global leader in the renewable energy sector and one of the world’s largest wind energy producers, has secured two 15-year Power Purchase Agreements (“PPA”) at the renewable auction CLPE No. 02-2019 organised by the Colombian Government.
The PPA contracts are based on the energy to be produced at two wind farms, namely Alpha, with a total installed capacity of 212 MW, and Beta, with 280 MW, which are expected to commence commercial operations in 2022. Within the framework to develop these two facilities, currently at an advanced stage, EDPR has made commitments to the local indigenous community, which will benefit from the positive socio-economic impact of the wind farms on the region.
The entry into the Colombian market is a cornerstone of EDPR’s strategy and business plan. With these projects, EDPR increases its worldwide footprint by entering into a new market with growing energy demand, solid wind resources and sustainable development of renewable energy sources.
Colombia will act as the focal point for the consolidation of EDPR’s business in Latin America, where the company intends to continue growing as part of its strategy of studying worldwide opportunities, while developing profitable wind and photovoltaic projects in countries with a low risk profile and regulatory stability.
Colombia is the 14th market in which EDPR operates and its third in Latin America after Brazil and Mexico. Across the continent (including operations in Canada and the United States) EDPR had, as of 30 June, an installed capacity of 6,029 MW.