EDP awarded with grid connection in floating solar auction in Portugal
Tuesday05, April 2022

EDP awarded with grid connection in floating solar auction in Portugal

Lisbon, April 5th, 2022:EDP - Energias de Portugal, S.A. ("EDP"), through its 74.98% owned subsidiary EDP Renováveis, S.A. ("EDPR"), was awarded 70 MVA of grid connection capacity at Alqueva in the floating solar auction in Portugal with a CfD (contract for differences) of -€4/MWh for a period of 15 years.

The grid connection capacity is expected to allow EDP to install up to 154 MW of renewable capacity including 70 MW of floating solar PV under the above mentioned CfD plus 14 MW of solar overcapacity and 70 MW of hybrid wind capacity, both excluded from the CfD. The project is estimated to be operational in 2025.

This project is a clear example of value creation through hybridization of renewable technologies and optimization of grid connection.

EDP's 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.

This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities code.

EDP - Energias de Portugal. S.A.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

EDP - Energias de Portugal SA published this content on 05 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2022 06:37:05 UTC.