EDP Renovaveis SA (ELI:EDPR) announced on Thursday that it has been granted a 20-year feed-in-tariff (FiT) for 159 MW of wind and solar projects in Italy's recent auction.
The secured support concerns four renewable energy projects of which 70% are wind and 30% -- solar. Located in the southern region of Puglia, the assets are expected to commence operation by 2024.
The new contracts secured by the renewables arm of Energias de Portugal SA (ELI:EDP) represent 43% of the total allocated capacity, which had a maximum volume available of 1,200 MW.
EDPR said it secured the projects at an average price of EUR 65.17 (USD 69.71) per MWh.
Following the auction, EDPR has already secured about 52% of the target for 17 GW of renewable energy additions for the 2023-2026 period that was unveiled in March of this year.
(EUR 1.0 = USD 1.070)
Choose your newsletter by Renewables Now. Join for free!
You have run out of free articles this month. Get more for free
Glennmont's BNZ breaks ground on 135-MWp Italian solar trio
Innovatec, EnBW unit join hands for 100 MWp of solar in Italy
Ardian takes over Italian renewables biz ICQ Holding
Keppel MET Renewables buys 38-MWp solar project in Italy
Italy brings live 2.3 GW of fresh solar in H1
Encavis secures EUR 180m to fund solar projects in Europe
Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.