EDP Renewables, S.A. (“EDPR”), through its subsidiary EDP Renováveis Brasil, S.A. , secured a 15-year Power Purchase Agreement to sell the energy set to be produced by the Pereira Barreto solar photovoltaic park.
The project, located in the Brazilian State of São Paulo, has a total capacity of 199 MW and the contract is set to enter into force in 2022.
With this contract EDPR enters the Brazilian solar energy market, while reinforcing and diversifying its presence in a market with a low risk profile, through the establishment of long term contracts, attractive renewable resources and with solid prospects in the medium and long term.
Through this partnership, EDPR will have 1 GW of renewable energy projects under construction and development in Brazil, to start operations between 2018 and 2024, all with long-term contracts secured.
“This contract is yet another demonstration of just how important Brazil is for EDP Renewable’s strategy and that of the parent group globally. Our entry into the Brazilian solar energy market is also a commitment to our diversification of energy production technology, without ever forgetting the increasing importance of clean energy. Brazil is a priority market, which is providing us with growth opportunities” said António Mexia, CEO of the EDP Group.