EDPR is awarded contracts for wind capacity at Brazilian energy auction

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EDPR is awarded contracts for wind capacity at Brazilian energy auction

Monday 03, September 2018

Madrid, September 3rd 2018: EDP Renováveis, S.A. (“EDPR”), through its subsidiary EDP Renováveis Brasil, S.A. (“EDPR Brasil”), secured 20-year Power Purchase Agreements (“PPAs”) at the Brazilian energy A-6 2018 auction to sell electricity in the regulated market. The long term contracts are based on the energy to be produced by two wind farms to be installed in the Brazilian State of Rio Grande do Norte, namely Jerusalem with registered capacity of 176 MW and Monte Verde with 253 MW. Commercial operations of both projects are expected to occur in the beginning of 2024. The awarded price of the long-term contracts was set at R$94/MWh and R$87/MWh respectively, both indexed to the Brazilian inflation rate.

In Brazil, considering these new contracts, EDPR has currently under construction and development about 0.8 GW of wind energy projects to start operations in 2018, 2023 and 2024, all with long-term contracts secured.

With this outcome, EDPR portfolio in Brazil is set to reach 1.1 GW by 2024, reinforcing EDPR presence in a market with a low risk profile, through the establishment of long term PPAs, attractive wind resource and solid prospects for the renewables sector in the medium and long term. 

“Brazil represents a strategic market for the company, so we are delighted to have broadened our portfolio in the country through long-term PPAs, enabling us to continue our growth trajectory over the coming years,” said João Manso Neto, CEO of EDP Renewables. “The abundance of wind resources, stable regulation and our experience in the market makes us very optimistic for the future in this region,” he added.