EDP – Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), secured 15-year long term contract at the Portuguese solar auction to sell electricity to be produced by the Ribatejo solar project with total capacity of 142 MW. The project is located in Ribatejo region, with installation expected to occur in 2022.
In the 1.4 GW Portuguese solar auction realized in July 2019, EDPR was the sole bidder of Lote 12. Following this process, the Directorate-General for Energy and Geology, within its own competences regarding the tender procedure, has accepted EDPR proposal for interconnection capacity to develop Ribatejo project (Lote 12) with a Feed-in Tariff of €20.89/MWh (weighted average price resulting from the auction).
With this new contract, EDP reaches ~750 MW of contracted solar capacity to be built until 2022, across Portugal, United States and Brazil, and has already secured 50% of the ~7.0 GW targeted global capacity build-out for 2019-2022 period, as communicated in the Strategic Update on March 12, 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.