Brazil with more solar energy from EDPR
EDP Renováveis, S.A. (“EDPR”), a global leader in the renewable energy sector and one of the world’s largest wind energy producers, through its subsidiary EDP Renováveis Brasil, S.A. (“EDPR Brasil”), secured a 19-year private Power Purchase Agreement (“PPA”) to sell the energy to be produced by Lagoa solar power plant. Lagoa solar power plant, located in the Brazilian State of Paraíba, has a total capacity of 66 MW and start of operations expected for 2022.
With this new contract EDPR reinforces its presence in a market with a low risk profile, through the establishment of long term contracts, attractive renewable resources and solid prospects in the medium and long-term. An article pubished by Go Eco Green21 states that 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.