edp announcement

EDP secures a 100 MW Solar PPA in United States

Thursday 07, May 2020

EDP secures a 100 MW Solar PPA in United States

Lisbon, May 6th, 2020:EDP - Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, has secured a 15-year Power Purchase Agreement (“PPA”) with Redwood Coast Energy Authority (“RCEA”) to sell the energy produced by the 100 MW Sandrini Sol I Solar PV project.

The project, located in the state of California in the United States, is expected to come online in 2022. With this contract, EDP has now secured 2.0 GW of projects to be installed in the United States through 2022.

Given EDP’s current solar assets in operation and the 1.3 GW of solar projects already contracted, EDP’s portfolio will increase its technological diversification and reach 1.6 GW of solar capacity build-out by 2022.

With this arrangement, EDP has now contracted 83% of the ~7.0 GW targeted global capacity build-out for the 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.