EDP Renováveis through its subsidiary EDPR Brasil, secured a 120 MWac Power Purchase Agreement (PPA) to sell the clean energy produced by Novo Oriente solar power plant.
EDPR will co-invest 50%/50% alongside EDP Brasil in the 254 MWac solar power plant. The project is located in the São Paulo state of Brazil, near Pereira Barreto’s solar farm that has recently reached COD. With significant synergies between the two projects, it is expected to enter in operation in 2024.
With this new PPA, EDPR continues to increase its technological diversification with 3.8 GW of secured capacity in Solar and an overall secured capacity of 8.9 GW for 2021-25.
EDPR's success in securing new PPAs 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.