EDP Renováveis Brasil S.A, a subsidiary of EDP Renováveis S.A., has secured a 19-year private Power Purchase Agreement (PPA) to sell the energy produced by Lagoa solar power plant. The plant is located in the Brazilian State of Paraíba, and has a total capacity of 66 MW. The start of operations is expected to be in 2022.
With this new contract, EDPR 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.
This new solar project increases EDPR’s portfolio technological diversification on which solar capacity total build-out is expected to reach 1.3 GW by 2022. After this new arrangement, EDPR has now secured 5.3 GW of the 7.0 GW targeted global capacity build-out for the 2019-2022 period, as part of its Strategic update announced on 12 March 2019.
Read the article online at: https://www.energyglobal.com/solar/22012020/edpr-secures-a-ppa-for-brazilian-solar-project/