EDP JOINT VENTURE PROPOSAL WINS MASSACHUSETTS OFFSHORE WIND CONTRACT

edp announcement

EDP JOINT VENTURE PROPOSAL WINS MASSACHUSETTS OFFSHORE WIND CONTRACT

Wednesday 30, October 2019

EDP JOINT VENTURE PROPOSAL WINS MASSACHUSETTS OFFSHORE WIND CONTRACT

EDP – Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), is pleased to announce that Mayflower Wind Energy LLC (“Mayflower”), a joint venture company currently owned by EDPR Offshore North America LLC (50%) and Shell New Energies US LLC (“Shell”) (50%), has been chosen by Massachusetts to supply 804 MW of clean offshore wind energy. The Mayflower project, located more than 20 miles south of Nantucket, is expected to be operational in 2025.

In addition to this 804 MW, Mayflower also has provided a competitive pricing solution to Connecticut under their current procurement process for offshore wind, which has yet to be announced.

With today’s announcement EDP increases its wind offshore growth options in an attractive market, thereby enhancing and diversifying EDPR’s long-term profitable growth options while maintaining a balanced risk profile.

For EDP, offshore wind energy is becoming an essential part of the global energy transition, leading to market’s rapid growth and increased competitiveness. As announced on May 21, 2019, EDP and ENGIE are creating an offshore joint-venture with a fully dedicated team, focused on global business development and power purchase agreement origination capabilities, aiming to grow more rapidly and to operate more efficiently.

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.