EDP Renováveis (EDPR), subsidiary of Portugal’s EDP group, entered the Colombian market and will soon develop two wind-energy projects.
EDP secured two 20-year contracts at an auction organized by the government for the construction of wind farms, El Tiempo reported.
The contracts (the Alpha; 212MW and the Beta; 280MW) correspond to two onshore wind projects and are expected to start their commercial phase in 2022.
The firm said it will now now seek to secure long-term power purchase agreements with third parties (known as PPAs) to sell the electricity produced by both farms.
“With these projects, EDPR increases its worldwide footprint by entering a new country with a growing energy demand, strong wind resources and sustainable development of its renewable energy sources,” the firm said in a statement.
Colombia is EDPR’s 14th market and the 3rd in Latin America, after Brazil and Mexico.
As of December 31st, 2018, EDPR managed an installed capacity of 5,729 MW throughout the entire American continent, including its operations in Canada and the US.
“As part of its growth strategy, EDPR continues to study worldwide opportunities while developing profitable projects focused in countries with low risk profiles and regulatory stability,” the company added.
EDPR is the world’s fourth-largest wind energy producer; the company announced a net profit of EUR313M between January and December 2018.
Bottom-line: We like to report on the corporate profiles of company’s that are arriving in Colombia to change the country’s energy future.
Seeing the interest of top global firms like EDPR in the country, only reinforces the national potential to develop new projects and boost the energy transition process.