EDP Renewables enters Colombian market with new windpower project

  • ECO News
  • 19 March 2019

This is the 14th international market EDP is entering. The company, led by Manso Neto, has announced this Tuesday morning that they are going to start a wind power project in Colombia.

EDPR, the renewable energy subsidiary of the electrical company EDP, has announced this Tuesday it will enter the Colombian energy market, with a wind power project in that country. The Portuguese company won a deal on an auction organized by the government of Colombia, in which the state was offering a 20 year deal for building wind farms. “With this accomplishment, EDP is one step further in its renewable energy strategy, creating with it new growth options for the company”, Mexia, the CEO of EDP, noted.

In an announcement to the markets, the company led by Manso Neto explained that these contracts are referring to projects in Alpha soils, which get up to 212 MW of power, and Beta soils (280 MW), and they can be explored by EDPR until 2022.

These projects have been auctioned under the protection of the mechanism “Cargo de Confiabilidad”, meaning that they will receive a revenue not only for the electricity generated but as well for “contributing for the overall electrical system’s stability”. “Now, EDPR is looking to guarantee long term sale and purchase contracts with third-party intervenients (also known as PPA), in order to sell the electricity produced in both these wind power farms.

“Entering the Colombian market is a step forward, which is in line with EDPR’s strategy of investing further in renewable energies, by finding new growth opportunities. Leading the transition to a greener world in the energy sector is our main goal”, António Mexia added.