EDPR awarded with grid connection in floating solar auction in Portugal
Madrid, April 5th 2022: EDP Renováveis, S.A. (“EDPR”) was awarded 70 MVA of grid connection capacity at Alqueva in the floating solar auction in Portugal with a CfD (contract for differences) of -€4/MWh for a period of 15 years.
The grid connection capacity is expected to allow EDPR to install up to 154 MW of renewable capacity including 70 MW of floating solar PV under the above mentioned CfD plus 14 MW of solar overcapacity and 70 MW of hybrid wind capacity, both excluded from the CfD. The project is estimated to be operational in 2025.
This project is a clear example of value creation through hybridization of renewable technologies and optimization of grid connection.
EDPR's success 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.º-A of the Portuguese Securities code.
EDP Renováveis, S.A.