EDP Renováveis, SA (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, signed a 20-year Power Purchase Agreement (“PPA”) with Indiana Michigan Power Company, a fully owned subsidiary of American Electric Power, to sell the renewable energy produced from its 200 MW Headwaters wind farm project located in the Indiana state, expected to be installed in 2014.
EDPR is executing a flexible business model reinforcing its ability to capture opportunities and adjust growth to most attractive countries. The Production Tax Credits (“PTC”) extension in January 2013 enabled a more favourable environment for the development of wind energy and for the establishment of new long-term PPA in the US creating new growth opportunities for EDPR on the short-term.
EDP Renewables (Euronext: EDPR), headquartered in Madrid, Spain, is a global leader in the renewable energy sector and the world’s third-largest wind energy producer.
With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 11 markets (Belgium, Brazil, Canada, Spain, the US, France, Italy, Poland, Portugal, the UK and Romania). Energias de Portugal, S.A. (“EDP”), the majority shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability.EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX).