EDP Renováveis, SA (“EDPR”), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, through its fully owned subsidiary EDP Renewables North America LLC, extended to 100 MW its Rising Tree North wind farm project located in the state of California, expected to be installed in 2014, and secured a new 20-year Power Purchase Agreement (“PPA”) to sell the renewable energy produced by the project extension (+20 MW).
Since the beginning of 2013 EDPR has already secured 1,000 MW of new PPAs, of which 250 MW for projects that were already in operation and 750 MW for new projects to be installed in 2014 and beyond.
The success of EDPR on securing new PPAs reinforces the low risk profile and provides solid visibility on the company’s growth prospects.
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 principal 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).