Spanish renewable energy company EDP Renováveis (EDPR) has secured 20-year power purchase agreements (PPA) for two wind farms in the Brazilian state of Rio Grande do Norte.
The long-term PPA contracts were acquired through EDPR’s subsidiary EDP Renováveis Brasil (EDPR Brasi) at the Brazilian energy A-6 2018 auction.
The wind farms will be developed at Jerusalem with a registered capacity of 176MW and at Monte Verde with a 253MW capacity.
EDP Renewables CEO João Manso Neto said: “Brazil represents a strategic market for the company, so we are delighted to have broadened our portfolio in the country through long-term PPAs, enabling us to continue our growth trajectory over the coming years.
“The abundance of wind resources, stable regulation and our experience in the market makes us very optimistic for the future in this region.”
The two wind farm projects, which are priced at R$94/MWh and R$87/MWh respectively, are expected to begin their commercial operations in early 2024.
With the latest long-term contracts, EDPR expects to reinforce its presence in the Brazilian market and increase Brazil portfolio to 1.1GW by 2024.
Currently, EDPR has nearly 0.8GW of wind energy projects that are under construction and development and are slated to begin operations in 2018, 2023 and 2024, all with long-term contracts secured.