EDP Renováveis wins 20-year contract for wind and solar projects in Italy

EDP - Energias de Portugal, through its subsidiary EDP Renováveis, announced to the market that in the eleventh renewable auction promoted by Gestore Servizi Energetici (GSE) in Italy, "was awarded a 20-year feed-in-tariff (FiT) of E65.17/MWh for 159 MW of renewable capacity".

The capacity allocated to EDPR represents 43% of the total capacity allocated in the auction, which compares to the maximum volume available for allocation of 1,200 MW (mega watts).

"These feed-in-tariffs were allocated to four projects located in the Puglia region of Italy, of which 70% are wind projects and 30% are solar projects," reads the statement. They are expected to come into operation by 2024.

EDP has secured about 52% of the approximately 17 GW (giga watts) of capacity set as EDPR's target additions announced at EDP's 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, promoting the acceleration of the energy transition and the decarbonization of the economy," the statement added.