Operations will start next year and the contract has a duration of fifteen years.
EDP Renováveis has secured a 15-year contract to sell energy produced by a solar photovoltaic project in Hungary totalling 50 MW. The start of operations will begin next year, the Portuguese company announced in a statement sent to the Portuguese Securities and Exchange Commission (CMVM).
“With this project, EDP increases its worldwide footprint by entering in a new market with a sustainable development of its renewable energy source,” explains the company.
Hungary expects to increase its solar PV capacity to 6.5 GW by 2030, mostly through an auction-based regulatory framework.
The company led by Miguel Stilwell adds that it continues to “study worldwide opportunities while developing profitable projects focused in countries with low risk profile and regulatory stability.”