EDP enters Hungarian market with a 50 MW solar PV project
EDP enters Hungarian market with a 50 MW solar PV project
Lisbon, February 12th, 2021:EDP - Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), secured a 15-year Contract-for-Difference ("CfD") to sell energy produced by a solar PV project in Hungary totalling 50 MW and with expected commercial operation in 2022.
With this project, EDP increases its worldwide footprint by entering in a new market with a sustainable development of its Renewable Energy Source.
Hungary expects to increase its solar PV capacity to 6.5 GW by 2030, mostly through an auction-based regulatory framework.
As part of its growth strategy, EDP continues to study worldwide opportunities while developing profitable projects focused in countries with low risk profile and regulatory stability.
EDP's success in securing new long-term contracts 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.