EDPR is awarded with 25 MW for a PV project located in Hungary
The company has secured a Contract-for-Difference (“CfD”) for a period of 15 years.
The project is expected to proceed for construction during 2022 with commercial operation expected in Q4 2023.
EDPR reaches 75 MW in Hungary, after entering this market last February with a 15-year CfD totalling 50 MW.
Madrid, 16 December 2021. EDP Renewables (Euronext: EDPR), the world’s fourth largest renewable energy producer, has been awarded with 25 MW for its Nyirseg PV project located in Hungary. The award means that the project will benefit from a CfD valued at 15.73 HUF/MWh (circa 42.5€/MWh) for a period of 15 years.
The construction of the project will start during 2022, with commercial operation expected in Q4 2023.
Miguel Stilwell d’Andrade, EDPR and EDP Group CEO, states: “EDPR has secured new capacity in Hungary, which reinforces our ambition to continue to grow in this European region. Moreover, the fact that these new projects are solar PV parks highlights our strategy of technological diversification on the way to the energy transition, which will undoubtedly benefit Hungarian society”.
EDPR confirms its growth strategy in Hungary reaching 75 MW in this market. The company entered the country last February with a 15-year CfD to sell energy produced by another solar PV project totalling 50 MW.
The company’s success in securing new long-term contracts reinforces its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility.
About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR), is a global leader in the renewable energy sector and the world’s fourth-largest renewable 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 25 international markets (Belgium, Brazil, Canada, Colombia, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain, Hungary, Chile, Vietnam, Singapore, Malaysia, Indonesia, Thailand, Cambodia, China, Taiwan, Japan the United Kingdom, and the United States).
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) and a Top Workplace 2020 in the United States, both of which recognize 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 been included in the Dow Jones Sustainability Index for 14 consecutive years and was recently recognized as the world’s most sustainable electric utility in the Dow Jones index.
