EDP Renováveis enters the North American state of Colorado
EDP Renováveis (EDPR), through its subsidiary EDP Renewables North America LLC, has signed a 15 year PPA for the sale of the clean energy generated in the state of Colorado in the United States.
This contract was signed with the Tri-State Generation and Transmission Association, Inc, an association made up of 43 electric cooperatives and public energy companies, and marks the entry of EDP Renováveis into its 15th US State.
The Crossing Trails wind farm will have an installed capacity of 104MW and should be in operation by 2020. It will produce enough power to supply more than 47,000 medium-sized rural homes in that state and will also bring economic benefits to the region- including job creation, rent payments to landowners, and so on.
The company has been in the USA for 12 years and now enters its 15th State. EDP is already present in the following States: California, South Carolina, Indiana, Illinois, Iowa, Kansas, Minnesota, Ohio, Oklahoma, Oregon, New York, Texas, Washington, and Wisconsin. With this new contract, EDPR has now secured 1.2GW of long-term energy sales contracts in the United States for projects that will be in place in 2019 and 2020. As already happened in other parts of the country, EDPR will also look for future business opportunities in this new state.
This type of contract, called PPA, helps reinforce the company's low risk as well as its growth strategy supported by competitive projects with long-term visibility.
About EDP Renováveis
EDP Renováveis (Euronext: EDPR) is a world leader in the renewable energies sector and is the world's fourth largest wind power producer. With a strong portfolio of active projects, top quality assets and market-leading exploration capacity, EDPR has registered exponential growth in recent years and is now present in thirteen international markets (Belgium, Brazil, Canada, the United States, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain and the United Kingdom). Energias de Portugal, S.A. ("EDP"), EDPR's main shareholder, is a leading international power company in the creation of value, innovation and sustainability. EDP has been part of the Dow Jones Sustainability Index for eleven consecutive years.