EDP Renováveis concludes contract for the sale of energy produced in Texas

EDP Renováveis ended a 15-year contract with a company from the Industrial and Commercial segment for the sale of energy produced by the wind project by Hidalgo II (50 megawatts), in Texas (USA), the company announced.

In a press release sent to the Portuguese Securities Market Commission (CMVM), EDP Renováveis, which is 82.6% owned by EDP, explains that the Hidalgo II wind project, located in Texas, USA, attached to the wind park operating in Hidalgo II (250 MW) and which will start operating in 2019.

EDP Renováveis has already assured over 1.6 GW long-term contracts of wind energy in the USA for projects to be installed between 2016 and 2020. With these new contracts, EDP Renováveis (EDPR) “has now contracted more than 90% of the 3.5 GW targeted global capacity additions for 2016-2020 period, as announced at EDP Group Capital Markets Day in May 2016”, the company states.

“EDPR’s success in securing new PPAs [Power Purchase Agreement] reinforces its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility”, the company adds.

In February, EDP Renováveis announced it concluded a sale contract of 200 MW about a new wind project (Prairie Queen) in Kansas, USA, throughout 20 years, with Great Plains Energy.