EDP Renováveis, SA (EDPR), through its fully owned subsidiary EDP Renewables North America LLC, says it has secured a 15-year Power Purchase Agreement (PPA) to sell the energy produced from its 50-MW Hidalgo II wind farm project.
EDPR has already secured more than 1.6 GW of wind energy long-term agreements in the U.S. for projects to be installed in 2016 to 2020.
Hidalgo II wind farm is co-located in Texas, with EDPR’s operational 250-MW Hidalgo wind farm. Hidalgo II wind farm is expected to begin operations in 2019.
“We are immensely proud to continue signing new PPAs as they contribute towards changing the energy system through the creation of new renewable energy sources,” said João Manso Neto, EDP Renewables CEO. “We firmly believe this is the right path and are delighted to reach new agreements with large companies to make further progress in this regard.”
Thanks to the new agreement, EDPR has now contracted more than 90% of the 3.5 GW targeted global capacity additions for the 2016 to 2020 period, as announced at EDP Group Capital Markets Day in May 2016. EDPR says its success in securing new PPAs reinforces its low-risk profile and growth strategy, based on the development of competitive projects with long-term visibility.
Filed Under: News, Projects
