EDP ENTERS THE COLOMBIAN WIND ENERGY MARKET WITH 2 PPAs
EDP ENTERS THE COLOMBIAN WIND ENERGY MARKET WITH TWO 15-YEAR PPA CONTRACTS AWARDED
EDP – Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, SA (“EDPR”), secured two 15-year Power Purchase Agreement (“PPA”) at the renewable auction CLPE No. 02-2019 organized by the Colombian Government. The PPA contracts are based on the energy to be produced by two wind farms, namely Alpha with registered capacity of 212 MW and Beta with 280 MW and have an expected commercial operation date in 2022. Both projects are currently being developed by EDP and had already been selected in March 2019 at the reliability auction.
With these projects, EDP increases its worldwide footprint by entering in a new market with a sustainable development of its Renewable Energy Source.
Given this new agreement, EDP has now secured 60% of the ~7.0 GW targeted global capacity build-out for the 2019-2022 period, as communicated in the Strategic Update on March 2019.
As part of its growth strategy, EDP continues to study worldwide opportunities while developing profitable projects focused in countries with low risk profile and regulatory stability.
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.