EDP Renewables Signs PPA with Tennessee Valley Authority

EDP Renewables (the fourth largest wind power operator in the world), through its subsidiary Horizon Wind Energy, has just entered into a 20-year Power Purchase Agreement with Tennessee Valley Authority (TVA) to sell 115 MW of renewable wind energy from the first phase of its Pioneer Prairie Wind Farm located in Mitchell and Howard Counties in Iowa.

Energy from Pioneer Prairie Wind Farm will be delivered to homes and businesses in TVA’s service area in parts of seven southeastern states.

"We are pleased that this marks our first Power Purchase Agreement with TVA," said Ana Maria Fernandes, Chief Executive Officer of EDP Renewables. "We look forward to a long partnership with TVA to supply their customers with pollution-free wind energy."

The Pioneer Prairie Wind Farm, which is located in Iowa along the Minnesota state line in Howard and Mitchell counties, has an installed capacity of 300 MW – enough to power more than 90,000 American homes annually.

EDP Renewables North America, through its subsidiary Horizon Wind Energy, also has a long term power purchase agreement in place to sell 102.3 MW of renewable energy from the second phase of Pioneer Prairie Wind Farm to AmerenUE.

The Tennessee Valley Authority, a corporation owned by the U.S. government, provides electricity to 156 local power distributors that serve 9 million people in parts of seven southeastern states at prices below the national average.

TVA, which receives no taxpayer money and makes no profits, also provides flood control, navigation and land management for the Tennessee River system and assists utilities and state and local governments with economic development.

With over 20 offices and 22 wind farms across the United States, EDP Renewables North America has developed more than 3,400 MW of wind turbines and operates over 2,800 MW of wind farms.

EDP Renewables North America is owned by EDP Renovaveis S.A. ("EDPR"), a global leader in the renewable energy sector. EDPR has undergone exceptional development in recent years. Its installed capacity increased four-fold between 2005 and 2007, becoming the fourth largest wind energy company in the world. EDPR is listed on the Euronext Lisbon Stock Exchange.

Energias de Portugal, S.A. ("EDP"), the parent company of EDPR, is a vertically-integrated utility company, headquartered in Lisbon, Portugal. Through its various constituent businesses, EDP holds significant electricity and gas operations in Europe, Brazil, and the United States.