EDP Renováveis wins contracts to build 490 MW in Colombia

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Colombia

EDP Renováveis wins contracts to build 490 MW in Colombia

Wednesday 23, October 2019

Following the awarding of two 15-year power purchase agreements (PPA), Colombia becomes EDPR's 14th market worldwide and the cornerstone of the company's business consolidation in Latin America.

EDP Renováveis has just secured two PPAs in a renewable energy auction (CLPE No. 02-2019) held by the Colombian Government.

These power purchase agreements include the energy to be produced at Alpha wind farm, with a capacity of 212 MW, and Beta wind farm, with 280 MW. Commercial exploitation is expected to begin in 2022. The development of these EDPR wind farms is at an advanced stage and the company has already promised aid for the local indigenous community, which will benefit from the social and economic impact of the operations.

EDPR's entry into Colombia plays a key role in the company's business strategy. Thanks to these projects, EDPR will increase its international presence and enter a country characterized by growing energy demand, solid wind resources, and sustainable development of its renewable energy sources.

Colombia will play a key role in the consolidation of EDPR's activities in Latin America, where the company wants to continue to grow as part of a strategy based on the assessment of opportunities and the development of profitable wind and solar energy projects in low risk/high stability markets.

Colombia is the EDPR's 14th market worldwide and the third in Latin America, after Brazil and Mexico. On June 31, EDPR's installed capacity in the Americas - including Canada and the US - amounted to 6029 MW.