EDPR and MSD sign long-term 40 MW PPA for a wind power project in Spain
The contract duration is 15 years and the project, located in Albacete, is expected to start operations in 2023
Madrid, April 26th 2021. EDP Renewables, a world leader in the renewable energy sector and the world’s third largest wind power producer, has signed a 15-year power purchase agreement (PPA) with pharmaceutical company MSD (tradename of Merck & Co., Inc., Kenilworth, N.J., USA) to commercialize the energy produced by a 40 MW wind farm.
The project is located in Albacete (Spain) and is expected to start operations in 2023. With this new agreement, EDPR secures 406 MW for projects in Spain that are expected to be operational from 2021. Recently EDPR was awarded 143MW, both wind and solar PV, in the renewables auction opened by the Spanish Government.
EDP Renewables CEO, Miguel Stilwell de Andrade, said: “We are delighted to announce our long-term PPA with Merck, a company which, like us, is doing its part toward decarbonizing the economy. Spain is a strategic market for EDP Group, and we look forward to continuing to actively develop wind and PV energy in this region”.
“This contract is an important step in MSD meeting its commitment to sustainability by bringing carbon-free energy to the Spanish grid and reducing the environmental impact of our European operations. As a human and animal health company, we see our renewable energy strategy as fully integrated with MSD’s mission to save and improve lives” said Susanna Webber, senior vice president, Global Supplier Management Group and Chief Procurement Officer, MSD.
EDPR’s success in securing new PPAs reinforces its low-risk profile and growth strategy based on competitive project development with long-term visibility.
EDP group is committed to becoming an all-green company by 2030, developing an additional 20GW in renewables through to 2025, at a rate of 4 GW/year.
About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR), is a global leader in the renewable energy sector and the world’s third-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 15 international markets (Belgium, Brazil, Canada, Colombia, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Hungary, Spain, the UK and the US).
EDPR is committed to furthering social advances in terms of sustainability and integration. This is reflected by the inclusion of the company in the Bloomberg Gender Equality index and the fact that it has been certified as a Top Employer 2020 in Europe (Spain, Italy, France, Romania, Portugal and the United Kingdom), both of which recognise its employee-driven policies.
Energias de Portugal, S.A. (“EDP”), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP has featured on the Dow Jones Sustainability Index for 13 consecutive years.
