EDP Secures a PPA for Two Solar Projects in the U.S. Totalling approximately 100 MW
EDP Secures a PPA for Two Solar Projects in the U.S. Totalling approximately 100 MW
Lisbon, October 13th, 2020:EDP - Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, has closed a 15-year Power Purchase Agreement (“PPA”) to sell the energy produced by two solar PV plants totalling approximately 100 MW.
In detail, the projects located in the U.S. state of Ohio, are expected to commence operations in 2022.
Given EDP’s current solar assets in operation and the 1.4 GW of new solar projects already contracted, EDP’s portfolio will increase its technological diversification and reach 1.6 GW of solar capacity build-out by 2022.
With this new agreement, EDP has now secured 85% of the ~7.0 GW targeted wind and solar global capacity build-out for the 2019-2022 period, as communicated in the Strategic Update on March 12th, 2019. EDP'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.
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 and of article 248-A of the Portuguese Securities code.
EDP – Energias de Portugal. S.A.