EDP Renováveis enters its 14th market with wind project in Colombia
The company arrives in Colombia after winning two new wind farm contracts, totalling 492 MW.
Madrid, March 18, 2019: EDP Renováveis has won two 20-year contracts at an auction held by the Colombian government for the construction of wind farms. The contracts pertain to onshore wind power projects in Alpha (212 MW) and Beta (280 MW), which EDPR is currently developing, and whose commercial operation is expected to start in 2022.
This auction was held under the "Cargo por Confiabilidad" mechanism and was carried out to ensure supply security: the projects will receive a compensation for their contribution to the electrical system's stability, as well as for the electricity they generate. EDPR will now seek to secure long-term power purchase agreements (PPA) with third parties in order to sell the electricity produced by both wind farms.
Thanks to these projects, EDPR strengthens its international presence by entering a new country, characterized by growing energy demand, strong wind power resources, and the sustainable development of its renewable energy sources.
Colombia is the 14th market in which EDPR operates - and the third in Latin America, after Brazil and Mexico. As of December 31, 2018, EDPR boasted an installed capacity of 5,729 MW in the Americas (including operations in Canada and the United States).
As part of its growth strategy, EDPR continues to study opportunities around the world and to develop cost-effective projects in countries with reduced risk profiles and regulatory stability.
About EDP Renováveis (EDPR)
EDP Renováveis (Euronext: EDPR) is a global leader in the renewable energy sector and the world's fourth-largest wind power producer. With a solid development pipeline, first-class assets and market-leading operating capacity, EDPR has experienced exceptional growth in recent years and is currently operating in 14 markets (Belgium, Brazil, Canada, Colombia, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain, the UK and the US). Energias de Portugal, S.A. ("EDP") — EDPR's main shareholder — is a global energy company and an international leader in value creation, innovation and sustainability. EDP has been listed on the Dow Jones Sustainability Index for the past 11 years.
For more information, see www.edpr.com.