A private solar PPA for the 66 MW project in Brazil takes EDPR’s total solar pipeline to 1.3 GW to be built by 2022, it said. (Photo Credit: EDP Renewables)
- A new PPA has been signed by EDPR in Brazil for its 66 MW Lagoa Solar Power Plant
- The private PPA has a duration of 19 years post project completion which will be in 2022
- Having signed the PPA with an unidentified buyer, EDPR will develop the project in the state of Paraiba
EDP Renewables (EDPR) has secured a 19-year contract for solar power to be generated by Lagoa Solar Power Plant it is developing in Brazil. The private power purchase agreement (PPA) has been secured through the company’s local subsidiary EDP Renovavies Brasil (EDPR Brasil).
The Portuguese renewables company did not identify the project offtaker. The PPA is for a 66 MW solar power project in the state of Paraiba that’s expected to start commercial operations in 2022.
“This new solar project increases EDPR’s portfolio technological diversification on which solar capacity total build-out is expected to reach 1.3 GW by 2022, after this new arrangement, EDPR has now secured 5.3 GW of the ~7.0 GW targeted global capacity build-out for 2019-2022 period, as part of its Strategic update announced in March 12th 2019,” the company stated in a brief press statement.
EDPR secured €150 million as institutional credit from the European Investment Bank for its 1.8 TWh clean power projects in Brazil in September 2019 to be allocated to onshore wind and solar power plants in the country (see EDPR Raises €150Mn For Brazilian Wind Solar Projects).