BoFa signs agreement with EDPR for wind power business

The US institution signed an agreement valued at 421 million dollars to be part of a portfolio of parks that use this type of energy

EDP ​​Renovavéis has signed a tax equity financing commitment with Bank of America worth $ 421 million in exchange for a stake in a portfolio of 405 megawatt (MW) offshore wind energy farms in the United States, the company said.

Specifically, these projects are located in the State of Illinois and have long-term energy acquisition contracts guaranteed.

The financing of the projects will be carried out near the start of the operation of the respective parks, which is expected to take place in the last quarter of this year and the first quarter of next year.

On the other hand, the “green” subsidiary of EDP also announced on Monday the signing of an agreement for the sale of electricity (PPA) generated by a 100 MW wind farm in Mexico. The contract is expressed in US dollars and is valid for a minimum of 15 years.

The wind farm, which is expected to begin operations in 2021, is located in a region of Mexico with significant wind resources and an expected load factor over 40%.

This announcement is part of EDPR’s commitment to the Mexican market where the company has 200 MW installed, as well as its development plan in the rest of the Latin American countries.

K. Tovar

Source: La Vanguardia

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