EDP has won a new contract for the supply of solar energy in the Brazilian market. The power purchase agreement (PPA) has a duration of 19 years, with operations expected to start in 2022.
In a press release sent to CMVM, the Portuguese company reveals that this PPA, located in the Brazilian State of Paraíba, “has a total capacity of 66 MW and the start of operations expected for 2022.”
“With this new contract, EDP reinforces its presence in a market with a low-risk profile, through the establishment of long-term contracts, attractive renewable resources and solid prospects in the medium and long term,” notes the company led by António Mexia, who controls 82.6% of EDP Renováveis.
“This new solar project increases the technological diversification of EDP’s portfolio, in which the total solar capacity should reach 1.3 GW by 2022,” says EDP, adding that “it has currently contracted 5.3 GW of the ~7.0 GW of global capacity planned for the period 2019-22, as announced in the Strategic Update of March 12th, 2019.”