EDP Renováveis informs about PPA contract secured for solar project in the US
Madrid, November 24th 2020: EDP Renováveis, SA (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, has secured a 74 MW Solar PV project with a 20-year Power Purchase Agreement (“PPA”).
In detail, the project is located in the U.S. state of North Carolina, and it is expected to commence operations in 2022.
Given EDPR’s current solar assets in operation and the 1.5 GW of new solar projects already contracted, EDPR’s portfolio will increase its technological diversification and reach 1.8 GW of solar capacity build-out by 2022.
With this new agreement, EDPR has now secured 87% of the ~7.0 GW targeted wind and solar global capacity build-out for the 2019-2022 period, as communicated in the Strategic Update on March 12, 2019.
EDPR'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.
EDP Renováveis, S.A.