- EDPR has announced entering long term PPAs for solar energy with various offtakers worth 605 MW in Brazil and the US
- In Brazil, the company has signed a PPA for 120 MW out of 254 MW Novo Oriente Solar Plant
- In the US, it has announced PPAs for 485 MW capacity in separate projects located in Arkansas, Mississippi, Indiana and Texas
The renewable energy arm of Portuguese energy giant EDP, EDP Renewables (EDPR) has announced securing power purchase agreements (PPA) for a total of 605 MW AC solar power capacity in the 2 markets of Brazil and the US with various offtakers.
In Brazil, it will sell clean energy produced by 120 MW AC out of 254 MW AC Novo Oriente Solar Power Plant to come up in Sao Paulo state. To be a 50:50 investment between EDPR and EDP Energias do Brasil, the project is expected to enter commercial operations in 2024.
In the US market, EDPR has secured offtakers for 4 separate projects. Of the total, it will sell clean energy produced from 175 MW AC project in Mississippi County in Arkansas, 100 MW AC in Madison County, Mississippi and 150 MW AC in Randolph County of Indiana. All these projects have a commercial operation date of 2024.
It will also sell solar power from 60 MW out of 240 MW Cattlemen Solar Park in Milam County of Texas through its fully owned subsidiary EDP Renewables North America (EDPR NA) to pharmaceutical company Bristol Myers Squibb. It recently announced securing Meta/Facebook into a long-term PPA for 156 MW capacity from this project, taking the total contracted capacity of the Cattlemen Solar Park to 216 MW (see Another PPA Between EDPR & Meta).
The 15-year PPA with Bristol Myers will enable it to further develop the park and bring it online as scheduled in 2023.
EDPR counts its contracted solar power capacity to have reached 4.2 GW with an overall secured capacity of 9.3 GW for 2021-25 with these contracts.
Management said the new PPAs boosts its growth strategy based on the development of competitive projects with long term visibility.