edp announcement

EDP secures a solar PPA in Mexico

Thursday 16, April 2020

EDP secures a solar PPA in Mexico

Lisbon, April 16th, 2020: EDP - Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), has secured a Power Purchase Agreement (“PPA”) with Ammper Energía S.A.P.I. de C.V. (“AMMPER”) to sell the energy produced by the 200 MW Los Cuervos solar PV project. The contract is set in USD and for a 15-year minimum period.

The Los Cuervos solar project, located in Mexico, is expected to start operations in the beginning of 2021. Considering the capacity installed in the country and the projects already secured, EDP footprint in Mexico will reach 0.5 GW of installed capacity in 2021.

Given EDP’s current solar assets in operation and the 1.2 GW of solar projects already contracted, EDP’s portfolio will increase its technological diversification and reach 1.5 GW of solar capacity build-out by 2022.

With this arrangement, EDP has now contracted ~80% 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 will continue to analyse and develop projects that meet its internal risk and profitability criteria.

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.