EDP Renováveis, a global leader in the renewable energy sector and one of the world’s largest wind energy producers, has secured a Power Purchase Agreement (“PPA”) to sell the energy produced by a 100 MW wind farm project. The contract is set in USD and for a 15-year minimum period.
The wind farm project, which is expected to begin operations in 2021, is located in a region with a strong wind resource in Mexico and has an expected load factor above 40%.
This announcement is in line with EDPR’s commitment to the Mexican market -where the company has an installed capacity of 200 MW- and forms an integral part of its business plan for the wider Latin American region. The company is present in Brazil, where it has an installed capacity of 467 MW, in addition to various projects in the pipeline, and in Colombia, where it is developing two facilities with a combined capacity of 492 MW, due to enter service in 2022.
With this new agreement, EDPR has now contracted more than 50% of the ~7.0 GW targeted global capacity build-out for 2019-2022 period, as communicated in the Strategic Update on March 12, 2019.
EDPR’s success in securing new PPAs reinforces its low-risk profile and growth strategy based on the development of competitive and innovative projects with long-term visibility.