EDP secures a 15 year PPA for a 209 MW solar project in Brazil
EDP secures a 15 year PPA for a 209 MW solar project in Brazil
Lisbon, October 25th, 2021: EDP - Energias de Portugal, S.A. (“EDP”), through a 50%/50% partnership between its subsidiaries EDP Renováveis, S.A. (“EDPR”) owned at 74.98% and EDP Energias do Brasil S.A (“EDP Brasil”) owned at 52.64%1, secured a 15-year Power Purchase Agreement (“PPA”) to sell the clean energy produced by the 209 MWac Monte Verde solar power plant in Brazil. The PPA was established with EDP Comercializadora S.A., which has already allocated this energy in contracts with the same maturity.
The project is located in the State of Rio Grande do Norte and is expected to enter in operation in 2024.
The 50%/50% co-investment between EDPR and EDP Brasil, will allow EDP to leverage on EDPR’s skills to develop and operate renewables projects, and on EDP Brasil’s local client prospecting and market expertise.
With this new agreement, EDP continues to increase its technological diversification with 2.7GW of secured capacity in Solar and an overall secured capacity of 7.4 GW for 2021-25.
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.