EDP Renováveis was awarded long term contracts for 127 MW at the Italian wind auction | EDP Renováveis

Madrid, December 23rd 2016: EDP Renováveis, S.A. ("EDPR") was awarded 20-year long term contracts at the Italian wind auction to sell electricity to be produced by 6 wind farms with a total capacity of 127 MW. The wind farm projects are located in the south of Italy, with installation expected to occur in 2018.

According with the auction scheme, the electricity produced by these wind farms will be sold to the market and if the realized market price is lower than the awarded price, the difference will be paid by Gestore dei Servizi Energetici ("GSE"). The price awarded in the auction for the 127 MW was set at €66/MWh.

With these new contracts EDPR has already secured more than 0.5 GW of projects to be added in Europe under the Business Plan for 2016-2020.

As of today, EDPR has secured more than 65% of the 3.5 GW of global target capacity additions for 2016-2020, as announced at EDP Group Capital Markets Day in May-16. The success of EDPR in this auction reinforces the company's low risk profile and its growth strategy based on the development of competitive projects with long-term visibility.