EDP Renewables (Euronext: EDPR), the world’s fourth largest renewable energy producer, has been awarded with 25 MW for its Nyirseg PV project located in Hungary. The award means that the project will benefit from a CfD valued at 15.73 HUF/MWh (circa 42.5€/MWh) for a period of 15 years.
The construction of the project will start during 2022, with commercial operation expected in Q4 2023.
Miguel Stilwell d’Andrade, EDPR and EDP Group CEO, states: EDPR has secured new capacity in Hungary, which reinforces our ambition to continue to grow in this European region. Moreover, the fact that these new projects are solar PV parks highlights our strategy of technological diversification on the way to the energy transition, which will undoubtedly benefit Hungarian society.
EDPR confirms its growth strategy in Hungary reaching 75 MW in this market. The company entered the country last February with a 15-year CfD to sell energy produced by another solar PV project totalling 50 MW.
The company’s success in securing new long-term contracts reinforces its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility.