EDP Renováveis, a Madrid-based company of the EDP – Energias de Portugal group, secured a contract for the supply of electricity in Brazil, valid for 20 years, the company said in a statement issued Friday.
The electricity will be produced by subsidiary EDP Renováveis Brasil at a 140-megawatt wind farm located in the Brazilian state of Bahia, which is expected to begin production in 2018.
EDP Renováveis has secured power purchase contracts (PPAs) for 377 megawatts of wind energy projects in Brazil in farms that are currently under construction or in development and will come on stream over the next three years.
“Through the success of this auction, EDPR strengthens its presence in the Brazilian wind market with a low risk profile through PPAs, with a favourable wind resource and strong growth prospects in the medium and long term,” said the statement issued by EDPR through the Portuguese securities and exchange commission, CMVM.
The EDP Group’s largest shareholder is the China Three Gorges group, which controls a 21.35 percent stake. (macauhub/BR/PT)