EDP secures a 120 MW PPA for a solar project in Brazil
EDP secures a 120 MW PPA for a solar project in Brazil
Lisbon, April 20th, 2022:EDP - Energias de Portugal, S.A. (“EDP”), through a 50%/50% partnership between its subsidiaries EDP Renováveis, S.A. (“EDPR”) owned at 74.98% and EDP Energias do Brasil S.A (“EDP Brasil”) owned at 56.94%, secured a 120 MWac Power Purchase Agreement (“PPA”) to sell the clean energy produced by Novo Oriente solar power plant.
The project has a total capacity of 254 MWac and is located in the São Paulo state of Brazil, near Pereira Barreto’s solar farm that has recently reached COD. With significant synergies between the two projects, it is expected to enter in operation in 2024.
With this new PPA, EDP continues to increase its technological diversification with 3.8 GW of secured capacity in Solar and an overall secured capacity of 8.9 GW for 2021-25.
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 and of article 248-A of the Portuguese Securities code.
EDP – Energias de Portugal. S.A.