EDP - Energias de Portugal SA

02/12/2024 | Press release | Distributed by Public on 02/12/2024 11:09

EDP awarded with 20-year CfD for 100 MW wind onshore in Italy

Lisbon, February 12th, 2024: EDP - Energias de Portugal, S.A. ("EDP"), through its 71.27% owned subsidiary EDP Renováveis, S.A. ("EDPR") has been awarded with 20-year contracts for difference ("CfD") for 100 MW of wind renewable capacity, at the latest renewable auction in Italy promoted by the Gestore Servizi Energetici ("GSE"). These CfDs were attributed to 3 onshore wind projects located in the south of Italy, which are expected to enter in operation by 2026.

The auction, that has delivered 1 GW of new clean energy, achieved a clearing price of €77.6/MWh, a significant increase from last year's €66.5/MWh in the twelfth auction. CfD auctions play a pivotal role in supporting the green transition and ensuring competitive projects.

With these new contracts, EDP has now 57% of the capacity secured out of the ~17 GW targeted additions for EDPR announced in EDP Capital Markets Day in March 2023.

EDP's success reinforces its low-risk profile and growth strategy based on the development of competitive projects with long-term visibility, fostering the acceleration of the energy transition and the decarbonization of the economy.

This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council.

EDP - Energias de Portugal, S.A.