EDP Renováveis bags US contract

 In EDP, News, Solar energy

The renewables energy arm of Portuguese energy provider EDP, EDP Renováveis (EDPR), has netted a contract to sell green energy in the United States.

The 200 MW solar farm project is in California and should be up-and-running in 2024. “The success of EDPR in securing new Power Purchase Contracts bolsters its low-risk profile and strategy for growth based on the development of competitive and long-term visibility projects”, states EDP.
The project should have a capacity of 150 MW in batteries and has now secured 10.8GW from a total of 20GW (2021-2025) as the company had announced on Capital Markets Day in February 2021.
EDP adds that the “transaction will enable EDPR to achieve 5 GW of solar capacity (2021-2025) — both in terms of large scale and distribution — and which compares to the goal of 9 GW of installed solar capacity for the same period”.
“The project will encourage fast-track energy transition and the decarbonisation of the economy”, state the two companies in a joint communiqué sent to the Portuguese stock market commission CMVM.
Three months after making its first major acquisition in the Polish market, EDP announced in July that its Polish subsidiary Energia Polska is in the process of acquiring yet another company specialising in distributed solar energy, Zielona.Energia.com.
This move represents a further milestone in EDP’s expansion strategy within the Polish photovoltaic market, by adding to the group a company with over 58MWp installed in that country, of which around 7MWp were contracted in the first half of this year alone.
Founded in 2013, Zielona-Energia.com adds to EDP a portfolio of business customers from various regions of Poland. Focused on the Small and Medium Business segment, the company’s current customers include schools, corporate offices, or agricultural spaces.
“Solar energy will be a fundamental lever to drive the energy transition that the EDP group is committed to leading in the 28 markets where it is present. Poland is a strategic country for this growth, where we were already developing wind projects and where, with this business segment, we intend to reach next year the mark of 100MWp of contracted solar capacity for self-consumption”, highlights Vera Pinto Pereira, director of EDP.