EDP Renewables (EDPR) has secured grid connection deal as part of floating solar auction in Portugal, expected to enable the company to install up to 154MW of renewable energy capacity.
EDPR said it was awarded 70 MVA of grid connection capacity at Alqueva in the floating solar auction in Portugal with a contract for differences (CfD) of -€4/MWh for a period of 15 years.
The grid connection capacity is expected to allow EDPR to install up to 154MW of renewable capacity, including 70MW of floating solar photovoltaics under the above mentioned CfD.
This will be accompanied with 14MW of solar overcapacity and 70MW of hybrid wind capacity, both excluded from the CfD.
The project is estimated to be operational in 2025, according to EDPR.
“This project is a clear example of value creation through hybridization of renewable technologies and optimization of grid connection.
“EDPR’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,” EDPR said in a statement.
EDPR is making great strides to advance the development of floating solar industry globally.
The company has recently cleared all regulatory conditions and finalized the acquisition Sunseap , which is the largest distributed solar power operator and the fourth largest solar power operator in Southeast Asia.
The companies said they would embark on developing renewable energy projects across the Asia Pacific region, specifically solar and wind projects.
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