EDP Renewables (EDPR) recently signed multi-site Power Purchase Agreements (PPAs) with a major US technology company. These agreements cover solar projects in Germany, France and Italy. These are the first PPAs that the company has signed simultaneously in several European markets, underlining its ability to manage complex, diversified contracts.
The projects included in these agreements will start in 2025 and last up to 20 years. These include the Ketzin project in Germany with a capacity of 87MWp, the Venoy project in France with 19MWp, and the Chiaramonte project in Italy with 70MWp, all developed via Kronos Solar EDPR. These facilities will collectively generate over 226GWh per year.
Strategy and business implications
For the US technology company, these PPAs represent a long-term solar energy supply strategy, reducing the risks associated with volatile energy prices. This approach also enables better management of energy costs and greater stability of supply. The company is also investing in renewable energies in Africa.
For EDP, these contracts strengthen its position in the European renewable energies market. With these new agreements, EDP reaches almost 9 GW of installed capacity contracted under PPAs worldwide, demonstrating its ability to meet the energy needs of major technology companies.
Financial performance and outlook
These PPAs enable EDP to secure stable long-term revenues, in line with the objectives of its Business Plan, which envisages securing over 55% of its installed capacity through long-term contracts. This strategy ensures greater financial visibility and facilitates future investments.
Moreover, by diversifying its portfolio with projects located in different countries, EDP reduces geopolitical and regulatory risks. This multi-geographical approach is essential to guarantee the resilience and sustainability of its operations in the competitive renewable energies sector.
EDP continues to demonstrate its ability to forge solid strategic partnerships with leading companies, reinforcing its leading position in the European renewable energies market.
