EDP – Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), secured a Power Purchase Agreement (“PPA”) to sell the energy produced by a wind farm project of 100 MW. The contract is set in USD and for a 15-year minimum period.
The wind farm project, which is expected to begin operations in 2021, is located in a region with a strong wind resource in Mexico and has an expected load factor above 40%.
With this new agreement, EDP has now contracted more than 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.
EDP's success in securing new PPAs reinforces its low-risk profile and growth strategy based on the development of competitive and innovative projects with long-term visibility.
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.