EDP sells 80% of power station in Brazil

 In EDP, News

Energy giant EDP has sold 80% of its coal-fired power station in Pecém Brazil to a group of Brazilian investors.

According to a note sent to the Portuguese stock market and securities regulator CMVM on Wednesday, the agreement also allows for a sale option for the remaining 20% by the end of a long-term contract to supply energy in a powerpurchase agreement or PPA.
The coal-fired power station valued at €366 million (1.9 thousand million reais) is located at the port of Pecém in the State of Ceará, Brazil and has a 720MW capacity.
It has an important role in supplying electricity to the North-East region of Brazil where electricity consumption and renewable energy production capacity has consistently grown.
EDP will 100% manage its 1.2MW renewable hydrogen project that became operational in December 2022 at the Pecém complex.
The sale of 80% of the Pecém coal-fired power station is another step in EDP’s decarbonisation strategy.
The company now only has three other coal-fired power stations left in its portfolio, all in Spain. The company is developing plans to demission two of these stations in Soto and Los Barrios.