EDP Renováveis secures a PPA projects totalling 59 MW in Spain
With this new agreement, EDPR has now secured 80% of the ~7.0 GW targeted wind and solar global capacity build-out for 2019-2022 period.
Madrid, April 21, 2020: EDP Renováveis, SA (“EDPR”), a global leader in the renewable energy sector and one of the world's largest wind energy producers, through its subsidiary EDP Renovables España S.L.U., has secured a Power Purchase Agreement (“PPA”) with Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, to provide 59MW[1] renewable electricity for the company’s operations in Europe. The portfolio comprises one wind farm and two solar power plants resulting in 45 kt CO2eq reduction per year.
16MW will be produced at the Herrerias wind farm (Zaragoza). The remaining 43MW[2] will be produced by the Acampo Arpal solar power plant (Zaragoza) and the Señora de la Oliva solar power plant (Cadiz); all power plants are expected to be installed in 2022/23. With this new contract, in Spain, EDPR has already secured PPAs for projects totaling 148 MW to be installed from 2020 to 2023.
João Manso Neto, CEO EDPR, said: “Although the challenging health environment we are facing nowadays, we are very pleased with today’s announcement. DSM is at the forefront of embedding sustainable practices into their business and we are very pleased with our partnership. This PPA rewards our compromise to continuously seek corporate agreements with industrial leaders and is a chance to increase our pipeline in a core market for us like Spain. We are steadfast in our commitment to keep growing responsibly and with the clear goals of continuing to generate value for all of our stakeholders, and to make a decisive contribution to the energy transition”.
Harry Coorens, Vice President DSM Sustainable Procurement comments; “This is the largest agreement DSM has signed so far, representing more than 30%of our total purchased electricity volume in Europe. A significant deal for DSM, in our journey to our commitment of sourcing 75% of our global electricity demand from renewable resources by 2030. We are excited to continue this journey with this EDPR partnership, accelerating the transformation to renewable energy. This is another example how we actively look for alliances to reduce GHG emissions and reach a low-carbon world for all”.
As of today, EDPR has secured 80% 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 2019. EDPR will continue to analyse and develop projects that meet its internal risk and profitability criteria.
EDPR's success in securing new PPAs reinforces its low-risk profile and growth strategy based on the development of competitive and innovative projects with long-term visibility.
[1] Equivalent to 76MWdc
[2] Equivalent to 60MWdc