EDP Renováveis secures new 25MW solar power contract in Hungary
"Construction of the project will begin next year, with commercial operation scheduled to start in the fourth quarter of 2023," the electricity company said.
EDP Renováveis has secured a new 25MW (Megawatt) contract for a solar photovoltaic project in Hungary for a period of 15 years, increasing capacity in the country to 75MW, the company told Lusa in a statement.
“Construction of the project will begin next year, with commercial operation scheduled to start in the fourth quarter of 2023,” the electricity company said.
With this new contract, EDP Renováveis says it has “reaffirmed its growth strategy in Hungary, reaching 75MW in this market”, where it entered last February with a 15-year contract for difference to sell energy produced by another solar photovoltaic project, totalling 50MW.
“EDPR has secured an increase in capacity in Hungary, which reinforces our ambition to continue growing in this European market. Furthermore, the fact that these new projects are solar parks strengthens our strategy of technological diversification on the path to energy transition, also contributing to the country’s sustainability,” says the chairman of EDP and EDP Renováveis, Miguel Stilwell d’Andrade, quoted in the note.
Considering itself as the “fourth largest producer of renewable energy in the world”, EDP Renováveis stresses that “the company’s success in securing new long-term contracts reinforces its low-risk profile and its growth strategy based on the development of competitive projects with long-term visibility”.
