EDP Renováveis has just secured a new power purchase agreement (PPA) to sell the energy produced by a wind farm to be built in Mexico. The 100MW contract is set in dollars and will last for at least 15 years.
This park, which is expected to start operating in 2021, is located in a Mexican region with vast wind resources, making it possible to reach a park utilization factor of over 40%.
This contract, now concluded, is in line with EDP Renováveis' commitment to the Mexican market - where the company entered in 2014 and already has an installed capacity of 200MW - and is another step in the business plan established for Latin America. The company is present in Brazil, where it has an installed a capacity of 467MW and has several projects under development, and also in Colombia, which it entered this year, and where it is developing two parks with a combined installed capacity of 492MW that are expected to enter into operation in 2022.
With this new contract, EDP Renováveis is able to secure more than 50% of the approximately 7GW of additional capacity to be installed by 2022, as announced in the Strategic Plan presented to the market in March this year.
With this strategy of securing long term contracts for the sale of clean energy, EDP Renováveis reinforces its low risk company profile and its growth strategy based on the development of innovative and competitive projects.