EDPR Secures 159 MW Contracts In Italian Wind & Solar Auctions

EDP Renewables (EDPR) has said that it has been awarded with a 20-year feed-in-tariff (FiT) of EUR 65.17 for every MWh for 159 MW of renewable capacity. The ward was made to EDPR at the eleventh renewable auction in Italy promoted by the Gestore Servizi Energetici (GSE).

The capacity awarded to EDPR represents a 43% of the total capacity awarded in the auction, which comparesGestore Servizi Energetici to the maximum volume available for awarding of 1,200 MW.

EDPR said that these feed-in tariffs were attributed to 4 projects located in the Puglia Region of Italy, out of which 70% are wind projects and 30% are solar projects. The renewable energy projects are expected to enter in operation by 2024.

As of today, EDPR has about 52% of the capacity secured out of the nearly 17 GW targeted additions announced in EDPR Capital Markets Day in March 2023.

EDPR said that its success reinforces its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility, fostering the acceleration of the energy transition and the decarbonization of the economy.

The renewable energy firm entered the Italian market in 2010. In 2012, EDPR operationalised its firm wind farm in the country.

The renewable energy is not drawing expected participation from the developers and RE expansion is turning to be quite difficult for Italy. Earlier this year, Italy’s energy agency allocated 116.2 MW of renewable energy capacity. This included 94.2 MW of solar capacity across 15 locations and also two wind installations having combined capacity of 22 MW.

Last September, GSE awarded 520 MW of capacity in the 9th renewable energy auction of Italy. It awarded 413 MW of wind and solar capacity for projects above 1 MW as the auction was undersubscribed with just 18% awarded of the 2,857 MW quota.

Italy has awarded just 444 MW of renewable capacity in its 8th RE auction in June 2022 that would be just 13% of the available capacity.

With regards to EDPR, it has installed more than 520MW of renewable energy capacity till date in Italy and has 230MW plus of RE projects under construction across Italy.