EDP Renováveis Brasil (EDPR Brasil), a subsidiary of Spanish renewable energy company EDP Renováveis (EDPR), has bagged rights to develop 429MW of wind projects at the Brazilian energy A-6 2018 auction.
The renewable energy developer secured 20-year power purchase agreements (PPAs) in this regard to sell power generated from two wind farms – the 176MW Jerusalem wind farm and the 253MW Monte Verde wind farm.
The two new wind farms, which will be located in Rio Grande do Norte state, are expected to enter into commercial operations in early 2024.
While the Jerusalem wind farm was won at a bidding price of R$94 ($22.61)/MWh, the Monte Verde wind farm was bagged at a price of R$87 ($20.93)/MWh.
EDP Renewables CEO João Manso Neto said: “Brazil represents a strategic market for the company, so we are delighted to have broadened our portfolio in the country through long-term PPAs, enabling us to continue our growth trajectory over the coming years.
“The abundance of wind resources, stable regulation and our experience in the market makes us very optimistic for the future in this region.”
Currently, EDPR has 800MW of wind energy projects under construction and development, considering the new contracts. The projects are to enter into operations in 2018, 2023 and 2024 and are all backed by long-term contracts.
The Spanish energy firm said that its Brazilian portfolio with the new projects is set to reach 1.1GW by 2024.
In the US, the company said that its subsidiary EDP Renewables North America signed an additional PPA with an undisclosed company from the energy sector to sell 50MW of the power generated from its 200MW Broadlands wind farm project in Illinois.
Scheduled to begin operations in 2019, the Broadlands wind farm will generate enough power to cover nearly 69,000 average Illinois homes.
Towards the end of last month, EDPR signed a 15-year PPA with Salesforce to supply 80MW of power generated from its 205MW Bright Stalk Wind Farm in McLean County, Illinois.