EDPR supplies power to Facebook and Walmart in US and sells Portuguese portfolio
Renewables unit of Portuguese energy giant had signed PPAs with internet and retail giants, and earns $625m from asset rotation
Renewables major EDPR has reached commercial operations at its 198MW Headwaters II project and has started supplying power from the wind farm in the US state of Indiana to internet and retail giants Facebook and Walmart.
The renewables unit of Portuguese energy giant EDP also said it has sold a 221MW wind portfolio in Portugal to Onex Renewables for €530m ($625m) as part of an asset rotation programme.
The second phase of the Headwaters wind farm joins the already operational 200MW first phase of the project in Indiana, where EDPR says it is the largest wind farm operator with a total operational capacity of 1.2GW.
Facebook is buying electricity from 139MW of generation capacity at Headwaters II under a 15-year power purchase agreement (PPA), helping the internet firm support is operations with 100% renewable energy. Walmart buys the output of the remaining 60MW of capacity under a long-term PPA that EDPR says advances the retailer’s 100% renewables goal.
But the Iberian company also is making good business in its home region.
The sale of the Portuguese wind portfolio to Onex Renewables is part of an €8bn asset rotation programme the company had announced at its recent capital markets day.
The Portuguese transaction involves five wind farms with an average age of 1.4 years as of the end of 2021, out of which three are in operation and two under construction.
(Copyright)