EDP Renováveis, SA (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC, secured a 15-year Power Purchase Agreement (“PPA”) to sell the energy produced from its 50 MW Hidalgo II wind farm project.
Hidalgo II wind farm, located in the state of Texas, US, is contiguous with EDPR’s operational 250 MW Hidalgo wind farm. Hidalgo II wind farm is expected to start operations in 2019.
EDPR has already secured more than 1.6 GW of wind energy long-term agreements in the US for projects to be installed in 2016-2020.
With these new arrangements, EDPR has now contracted more than 90% of the 3.5 GW targeted global capacity additions for 2016-2020 period, as announced at EDP Group Capital Markets Day in May 2016.
EDPR’s success in securing new PPAs reinforces its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility.
“We are immensely proud to continue signing new PPAs as they contribute towards changing the energy system through the creation of new renewable energy sources. We firmly believe this is the right path and are delighted to reach new agreements with large companies to make further progress in this regard”, said João Manso Neto, EDP Renewables CEO.