January 30 (Renewables Now) - EDP Renovaveis SA (ELI:EDPR) announced on Wednesday that it was awarded a 20-year contract-for-difference (CfD) for 109 MW of wind power in Italy's recent auction.
The electricity will come from a total of three wind farms expected to become operational in 2021.
The new contract secured by the renewables arm of Energias de Portugal SA (ELI:EDP) represents 20% of all capacity that was auctioned and has an average price of EUR 62 (USD 68.2) per MWh, EDP stated in its press release.
This outcome means that EDP has secured about 1.1 GW of European projects. At present, EDP has achieved 76% of the roughly 7 GW of wind and solar build-out capacity it targets for the 2019-2022 period, EDP noted.
Earlier this week, EDPR was granted a BRL-1-billion (USD 236.9m/EUR 215.3m) loan from Brazilian Development Bank, or BNDES, to support 319.2 MW of wind projects in Brazil.
(EUR 1 = USD 1.100)
(BRL 1 = USD 0.236/EUR 0.215)