EDPR informs about CfD awarded for 56 MW of wind onshore in the UK
Madrid, September 8th 2023: EDP Renováveis, S.A. (“EDPR”) informs that, as part of the Allocation Round 5 auction in the UK promoted by the Department for Energy Security and Net Zero, two wind onshore projects under development, with a 56 MW capacity, were awarded with Contracts for Difference (“CfD”) at £70.7/MWh 2023 nominal price (£52.29/MWh 2012 nominal price), a price updated to inflation, for a 15-year term of the contracts, starting in 2027.
The two wind farm projects, Ben Sca (41 MW) and Lurg Hill (15 MW), are located in Scotland and are expected to enter in operation by 2026.
EDPR has currently 8.9 GW of secured renewable capacity additions globally for 2023-2026 (operational, under construction or with final investment decision), which represents ~52% of the ~17 GW capacity target additions for the 4-year period.
EDPR investment plan, promoting the energy transition through the delivery of renewables generation, is based on a selective and disciplined risk/return criteria including a target IRR/WACC above 1.4x and a contracted profile of the net present value of the projects above 60%, leading the energy transition to create superior value.
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.
EDP Renováveis, S.A.