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EDP Renovaveis (EDP Renewables, Euronext: EDPR), a global leader in the renewable energy sector and one of the world's largest wind energy producers, , through its fully owned subsidiary EDP Renewables North America LLC, has secured a 20-year Power Purchase Agreement (PPA), with East Bay Community Energy (EBCE), to sell 100 MW of solar energy and 30 MW of energy storage from the Sonrisa Solar Park.
The Sonrisa Solar Park project, which is expected to commence operations in 2022, is located in the state of California and will be EDPRs first large scale renewable project with storage. The combination of solar with energy storage system was designed to increase efficiency and provide greater balance in energy supply.
With this new contract, EDPR has now secured 1.7 GW of long-term energy agreements in the U.S. for projects to be installed until 2022.
Given this new arrangement, EDPR has now contracted more than 45% of the nearly 7 GW targeted global capacity build-out for 2019-2022 period, as contemplated in the Strategic update announced in March 12th 2019.
EDPR's success in securing new PPAs reinforces its low-risk profile and growth strategy based on the development of competitive and innovative projects with long-term visibility.