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EDP ​​Renováveis ​​wins contract to build 490 MW in Colombia.

EDP ​​Renewables (Euronext: EDPR) has won two 15-year electricity purchase and sale (PPA) contracts in the CLPE No. 02-2019 renewable energy auction organized by the Colombian Government. The energies that will be produced by the PPA contracts include the 212 MW wind farm, and the 280 MW Beta wind farm, expected to be sold in 2022.

The parks are already at an advanced stage of installation. EDPR has also pledged to support the local indigenous community, which will benefit socially and economically from operations in the region where the parks are being built.

According to a statement from the company, this auction was held under the “Charge for Reliability” mechanism to ensure security of supply: projects receive remuneration for their contribution to the stability of the electricity system as well as for the electricity they generate. EDPR will now seek to secure long-term electricity purchase and sale agreements with third parties (so-called PPAs) to sell the electricity produced by both parks.

In this sense, Colombia will be the basis for the consolidation of EDPR’s activity in the Latin American continent. The company’s goal is to continue growing in the region, as part of its strategy of evaluation and opportunities and development of projects, both wind and solar photovoltaic. Its focus will be on profitable and focused markets with low risk profiles and regulatory stability for both wind and photovoltaic solar energy.

Source: Solar Portal

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