- Press Releases
April 21 (Renewables Now) - Portuguese renewable energy company EDP Renovaveis SA (ELI:EDPR) has secured a power purchase agreement (PPA) for a 120-MW portion of the 254-MW Novo Oriente solar photovoltaic (PV) project in the Brazilian state of Sao Paulo.
EDPR announced the signing of the contract by Brazilian unit EDP Renovaveis Brasil SA today, without disclosing the name of the off-taker.
The Novo Oriente plant is expected to start generating power in 2024. The project will be a 50/50 investment between EDPR and EDP Energias do Brasil SA (BVMF:ENBR3), which oversees Brazilian operations for Portuguese utility giant EDP SA (ELI:EDP).
Including the latest PPA, Madrid-based EDPR now has contracts for 3.8 GW of solar capacity and a total of 8.9 GW for the 2021-2025 period.