EDP Renováveis signed a Build & Transfer agreement with the Northern Indiana Public Service Company for a 200 MW solar project.
EDP Renováveis(EDPR) will build a 200 MW (AC) solar project for the Northern Indiana Public Service Company (NIPSCO). It is expected to start operating in 2022.
“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 signed a Build & Transfer Agreement with Northern Indiana Public Service Company LLC (“NIPSCO”),” EDP said in a statement sent to the Portuguese regulator (CMVM).
The Portuguese company explains that “the agreement enables the development and construction of EDP’s 200 MWac Indiana Crossroads Solar Park in the U.S. State of Indiana, which is expected to reach COD by 2022, when the Build & Transfer agreement would be completed.”
With this new agreement, “EDP has now 2.5 GW of capacity secured in the U.S. which will enter in operation from 2021 onward.” The contract announced on Monday “will also contribute to the asset rotation program 2021- 25 disclosed in the Capital Markets Day held on February 25th, 2021.”