EDPR Awarded Contract for 109 MW Wind Power in Italian Auction

EDPR has been awarded a 20-year CfD at the Italian wind auction to sell power generated by a portfolio of three wind farms with a total capacity of 109 MW

EDP Renováveis, (EDPR), a global leader in the renewable energy sector and one of the world’s largest wind energy producers, has announced that it has been awarded a long-term 20-year Contract-for-Difference (CfD) at the Italian wind auction to sell electricity produced by a portfolio of three wind farms with a total capacity of 109 MW. The projects are to be installed in 2021.

The capacity awarded represents 20 percent of the total capacity auctioned and has an average awarded price of EUR 62/MWh. With these new contracts, EDPR has already secured approximately 1.1 GW of projects to be installed in Europe under the Business Plan for 2019-2022.

Wind energy is an essential part of the global energy transition, allowing the market’s rapid growth and increase competitiveness. As of today, EDPR has secured 76 percent of the nearly 7.0 GW targeted wind and solar global capacity build-out for the 2019-2022 period, as communicated in the Strategic Update on March 2019, and will continue to develop worldwide profitable projects.

Recently, EDPR had announced that it has signed the agreement with Engie to create a co-controlled 50:50 joint-venture (JV) in fixed and floating offshore wind. The agreement signed followed the announcement, on May 21, 2019, of a strategic Memorandum of Understanding (MoU) to form a new entity as an exclusive vehicle of investment of EDPR and Engie for offshore wind opportunities worldwide, bringing together the industrial expertise and development capacity of both companies.

As agreed, EDPR and Engie, are combining their offshore wind assets and project pipeline in this new entity, starting with a total of 1.5 GW under construction and 3.7 GW under development, and working together to become a global top leader in the sector. 

Under the terms of the MoU, the companies will combine their offshore wind assets and project pipeline in the newly-created JV, starting with a total of 1.5 GW under construction and 4.0 GW under development, with the target of reaching 5 to 7 GW of projects in operation or construction and 5 to 10 GW under advanced development by 2025.