EDP secures PPA for a new solar project in Brazil
EDP secures PPA for a new solar project in Brazil
Lisbon, January 13th 2020: EDP – Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), secured a 19-year private Power Purchase Agreement (“PPA”) to sell the energy to be produced by Lagoa solar power plant. Lagoa solar power plant, located in the Brazilian State of Paraíba, has a total capacity of 66 MW and start of operations expected for 2022.
With this new contract EDP reinforces its presence in a market with a low risk profile, through the establishment of long-term contracts, attractive renewable resources and solid prospects in the medium and long-term.
This new solar project increases EDP’s portfolio technological diversification on which solar capacity total build-out is expected to reach 1.3 GW by 2022, after this new arrangement, EDP has now secured 5.3 GW of the ~7.0 GW targeted global capacity build-out for 2019-2022 period, as part of its Strategic update announced in March 12th 2019.
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.