EDPR awarded with grid connection in floating solar auction in Portugal
The company has achieved 70 MVA of grid connection capacity at Alqueva for a period of 15 years, which is expected to allow EDPR to install up to 154 MW of renewable capacity.
This strategy combines the optimization of grid connection and hybridization of renewable technologies to promote the acceleration of the energy transition.
Madrid, April 5th 2022. EDP Renewables (Euronext: EDPR), the world’s fourth largest renewable energy producer, was awarded 70 MVA of grid connection capacity at Alqueva in the floating solar auction in Portugal with a CfD (contract for differences) for a period of 15 years.
The grid connection capacity is expected to allow EDPR to install up to 154 MW of renewable capacity including 70 MW of floating solar PV under the above mentioned CfD, plus 14 MW of solar overcapacity and 70 MW of hybrid wind capacity, both excluded from the CfD. The project is estimated to be operational in 2025.
This project is a clear example of value creation through hybridization of renewable technologies and optimization of grid connection.
EDPR’s success reinforces its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility, fostering the acceleration of the energy transition and the decarbonization of the economy.
About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR) is a global leader in the renewable energy sector and the fourth largest producer worldwide. With its robust development portfolio, first-class assets and a market-leading operational capacity, EDPR has shown extraordinary growth over the past few years, with a presence in 26 markets across Europe, Latin and North America and Asia.
EDPR is a driver of social progress with its commitment to sustainability and integration, with their employee-centred policies earning them a listing in the Bloomberg Gender-Equality Index and seeing them named a Top Employer 2022 in Europe (Spain, Italy, France, Romania, Portugal and Poland) and Brazil, as well as a Top Workplace 2022 in the United States.
EDP – EDPR’s main shareholder – is a global energy company and a leader in value creation, innovation and sustainability. EDP has been listed on the Dow Jones Index for 14 consecutive years, recently being named the most sustainable electricity company on the Index.
