EDP Renewables Secures Multi-Site Power Purchase Agreements in Europe with Major US Tech Company

EDP Renewables (EDPR) has made waves in the renewable energy sector by landing multi-site Power Purchase Agreements (PPAs) with a major US tech company in Europe. This groundbreaking deal encompasses solar projects in Germany, France, and Italy, marking the first time EDPR has secured simultaneous agreements in multiple European markets.

The projects included in these agreements are expected to launch in 2025 and will run for up to 20 years. With facilities like the Ketzin project in Germany, the Venoy project in France, and the Chiaramonte project in Italy, developed by Kronos Solar EDPR, the combined capacity is projected to produce over 226GWh of energy annually.

For the US tech giant, these PPAs represent a crucial step in their long-term solar energy procurement strategy, providing stability in energy costs and supply while aligning with their commitment to sustainable practices. Additionally, for EDP, these contracts cement their position in the European renewable energies market, boasting close to 9 GW of contracted installed capacity under PPAs globally.

Financially, these agreements ensure stable long-term revenues for EDP, supporting their goal of securing over 55% of installed capacity through enduring contracts. The diversification of project portfolios across different countries also helps mitigate geopolitical and regulatory risks, emphasizing EDP’s focus on operational resilience and sustainability.

By forging strategic partnerships with industry leaders, EDP solidifies its reputation as a frontrunner in the European renewable energies market, showcasing their dedication to driving sustainability and innovation in the sector. This game-changing deal is not only a win for both companies involved but also a significant step towards a more sustainable energy future.