Ocean Winds secures a 20-year PPA for 400 MW in the US
Ocean Winds secures a 20-year PPA for 400 MW in the US
Lisbon, December 17th, 2021:EDP - Energias de Portugal, S.A. (“EDP”), through its 74.98% owned subsidiary EDP Renováveis, S.A. (“EDPR”), is pleased to announce that Ocean Winds (“OW”), the 50/50 Offshore JV owned by EDPR and ENGIE, has secured a 20-year Power Purchase Agreement (“PPA”) for 400 MW in the Mayflower Wind Energy LLC (“Mayflower”), a joint venture company currently owned by OW (50%) and by Shell New Energies (“Shell”) (50%), to deliver clean offshore wind energy to Massachusetts.
These 400 MW of PPA are on top of the already 804 MW secured capacity announced to the market on October 30th, 2019. In total, Mayflower has now 1,204 MW of secured capacity.
With today’s announcement, EDP increases its visibility on growth in wind offshore with 0.5 GW already operating and 3.5 GW of capacity secured to be installed, thereby enhancing and diversifying EDP’s long-term profitable growth options while maintaining a balanced risk profile.
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.