Portuguese renewable energy company EDP Renovaveis SA (ELI:EDPR) has secured a power purchase agreement (PPA) tied to the output of the 209-MW Monte Verde solar PV project it plans to build in the Brazilian state of Rio Grande do Norte.
In a securities filing published today, EDPR said the new PPA, obtained through Brazilian unit EDPR Renovaveis Brasil SA, would run for 15 years.
The name of the off-taker was not disclosed.
The Monte Verde plant is expected to start generating power in 2024. The project will be a 50/50 investment between EDPR and EDP Energias do Brasil SA (BVMF:ENBR3), which oversees Brazilian operations for Portuguese utility giant EDP SA (ELI:EDP).
With the latest PPA locked, the Madrid-based EDPR says it has now secured contracts for 2.7 GW worth of solar capacity and 7.4 GW of total capacity for the 2021-2025 period.