EDP secures long term PPA for a 110 MW solar project in the US
EDP secures long term PPA for a 110 MW solar project in the US
Lisbon, April 27th, 2023: EDP - Energias de Portugal, S.A. (“EDP”), through its 71.20% owned subsidiary EDP Renováveis, S.A. (“EDPR has secured a 15-year Power Purchase Agreement (“PPA”) to sell the green energy produced by a 110 MWac solar project in the state of Illinois, US. The project is expected to enter in operation in 2024.
This is an environmental justice-focused PPA, where EDP is committed to employ women and minorities in positions of leadership on the project, to invest capital on women and minority-owned businesses (WMBEs), undertake habitat restoration activities and ensure the project is carbon neutral.
With this new project, EDP has ~44% of the capacity secured out of the ~17 GW targeted renewables additions announced in EDP Capital Markets Day in March 2023.
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, fostering the acceleration of the energy transition and the decarbonization of the economy.
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.