EDPR inks PPA with Merck for 40-MW wind project in Spain

Renewable energy company EDP Renovaveis SA (ELI:EDPR) has clinched a 15-year power purchase agreement (PPA) to sell electricity from a 40-MW wind park in Spain.

The company said today that it has secured off-take with US-based pharmaceutical company Merck & Co Inc (NYSE:MRK), doing business as MSD.

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The project is located in the Spanish province of Albacete. The company expects the wind farm to start operations in 2023.

EDPR, majority-owned by Energias de Portugal SA (ELI:EDP), has now secured 406 MW of renewable energy projects in Spain, including the capacity covered by the latest PPA. These projects are expected to start coming online from 2021 onward.

The EDP group has pledged to develop 4 GW of renewables per year to reach an additional 20 GW by 2025, aiming to become completely green by 2030.