EDP – Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), secured a 20-year private Power Purchase Agreement (“PPA”) to sell the energy to be produced by Monte Verde VI and Boqueirão I-II. The wind onshore projects, both located in the Brazilian State of Rio Grande do Norte, have a total capacity of 126 MW and start of operations expected for 2022.
As of today, EDP has 467 MW of wind onshore technology installed in the country, and with this new contract EDP reinforces its presence in a market with a low risk profile, through the establishment of long term contracts, attractive renewable resources and solid prospects in the medium and long-term. In detail, EDP has currently more than 1 GW of wind and solar projects under development, of which 0.2 GW with start of operation expected for 2021, 0.4 GW for 2022 and 0.5 GW until 2023, all with long-term contracts secured.
Given this new arrangement, EDP has now contracted 3.3 GW of the ~7.0 GW targeted renewables capacity build-out for 2019-2022 period, as part of its Strategic update announced in March 12th 2019.
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-A of the Portuguese Securities code.
EDP – Energias de Portugal, S.A.