EDP Renováveis has closed another contract, this time in the American market. The company, through its subsidiary EDP Renewables North America, has secured a 15-year Power Purchase Agreement (PPA) with the Redwood Coast Energy Authority (“RCEA”) to sell the energy produced by the 100 MW Sandrini Sol I solar photovoltaic project.
The project, located in the state of California in the United States, is expected to start in 2022. “With this contract, EDP has now secured 2.0 GW of projects to be installed in the United States through 2022,” reads the statement sent to the Securities Market Commission (CMVM).
In 2022, EDPR’s portfolio intends to reach 1.6 GW of solar capacity, taking into account the current operating solar assets of EDP Renováveis and the 1.3 GW of solar projects already contracted.
According to the statement, EDP Renováveis has ensured 83% of the 7.0 GW of build-out capacity planned for the period 2019-2022. The company controlled by EDP states that “will continue to analyse and develop projects that meet its internal risk and profitability criteria.”