The contract for the sale of energy produced in a 200 megawatt solar park in the state of California, USA, lasts for 15 years.
EDP Renováveis announced that it has secured a 15-year acquisition contract for the sale of energy produced in a 200-megawatt solar park in the state of California, USA, with operation expected to begin in 2022.
“Given EDP’s current base of solar parks and the 950 megawatts (MW) of new solar energy projects already contracted, EDP’s portfolio will increase its technological diversification and will reach 1.1 gigawatt (GW) of solar capacity build-out [installed] in 2022”, highlights the company in a statement sent to the Securities Market Commission (CMVM).
According to him, considering this new power purchase agreement (PPA) – established through its 82.6% owned subsidiary EDP Renewables North America LLC – “EDP has currently secured 67% of the ~7.0 GW of wind and solar build-out capacity expected for the period 2019-2022, as announced in the Strategic Update of March 12, 2019”.
For the company led by Manso Neto, the new PPA that has been ensuring “reinforces its low risk profile and its growth strategy based on the development of competitive and innovative projects with long-term visibility”.