EDP awarded with CfD for 56 MW of wind onshore in the UK
EDP awarded with CfD for 56 MW of wind onshore in the UK
Lisbon, September 8th, 2023: EDP - Energias de Portugal, S.A. (“EDP”), through its 71.27% owned subsidiary EDP Renováveis, S.A. (“EDPR”) is pleased to announce that, as part of the Allocation Round 5 auction in the UK promoted by the Department for Energy Security and Net Zero, two wind onshore projects under development, with a 56 MW capacity, were awarded with Contracts for Difference (“CfD”) at £70.7/MWh 2023 nominal price (£52.29/MWh 2012 nominal price), a price updated to inflation, for a 15-year term of the contracts, starting in 2027.
The two wind farm projects, Ben Sca (41 MW) and Lurg Hill (15 MW), are located in Scotland and are expected to enter in operation by 2026.
EDP has currently 8.9 GW of secured renewable capacity additions globally for 2023-2026 (operational, under construction or with final investment decision), which represents ~52% of the ~17 GW capacity target additions of EDPR for the 4-year period.
EDP investment plan, promoting the energy transition through the delivery of renewables generation, is based on a selective and disciplined risk/return criteria including a target IRR/WACC above 1.4x and a contracted profile of the net present value of the projects above 60%, leading the energy transition to create superior value.
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 – Energias de Portugal. S.A.