EDPR is awarded LT contracts for wind capacity at Brazilian energy auction
EDP Renováveis is awarded long term contracts for wind capacity at Brazilian energy auction
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. (“EDP”) is providing the following information to the market:
EDP Renováveis, S.A. (“EDPR”), 82.6% controlled by EDP, announced today that its subsidiary, EDP Renováveis Brasil, S.A. (“EDPR Brasil”), secured 20-year Power Purchase Agreements (“PPAs”) at the Brazilian energy A-6 2018 auction to sell electricity in the regulated market. The long-term contracts are based on the energy to be produced by two wind farms to be installed in the Brazilian State of Rio Grande do Norte, namely Jerusalem with registered capacity of 176 MW and Monte Verde with 253 MW. Commercial operations of both projects are expected to occur in the beginning of 2024. The awarded price of the long-term contracts was set at R$94/MWh and R$87/MWh respectively, both indexed to the Brazilian inflation rate.
In Brazil, considering these new contracts, EDPR has currently under construction and development about 0.8 GW of wind energy projects to start operations in 2018, 2023 and 2024, all with long-term contracts secured.
With this outcome, EDPR portfolio in Brazil is set to reach 1.1 GW by 2024, reinforcing EDPR presence in a market with a low risk profile, through the establishment of long term PPAs, attractive wind resource and solid prospects for the renewables sector in the medium and long term.
EDP – Energias de Portugal, S.A
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