EDP reaches its 20th market with EDP Renováveis entering Hungary
15-year contract for the sale of solar energy marks the entry into the Hungarian market. Project with 50MW is expected to be operational next year.
EDP Renováveis (EDPR) has just secured a Contract-for-Difference for the sale of solar energy in Hungary, which will be produced in a photovoltaic plant with 50MW. The project is expected to enter commercial operation in 2022 and will contribute to the growth of the rapidly developing renewable energies sector in Hungary.
Hungary expects to increase its solar photovoltaic capacity to 6.5 GW by 2030, mostly through an auction-based regulatory framework.
With this contract, EDP group enters the Hungarian market and increases its presence worldwide, assuming its commitment to 20 countries already.
Hungary is the 15th market with the presence of EDP Renováveis, which permanently evaluates opportunities for growth worldwide, based on profitable projects in countries with a low risk profile and regulatory stability.
Last week, EDP Renováveis was chosen by the Spanish authorities to develop in Spain six new wind and solar farms, including hybrid parks, with a total of 143MW. The company also won a public auction in Italy for a new wind farm, with 44MW.
Since the beginning of the year, EDPR has also announced the purchase of 85% of C2 Omega, an American company specializing in decentralized solar energy solutions, with businesses in 16 U.S. states.
