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EDP Renewables secures agreements for 405 MW of wind energy

EDP Renováveis announced that its subsidiary EDP Renewables North America secured four 15-year power purchase agreements, or PPAs, for 405 MW of wind energy capacity.

The contracted capacity will come from two wind farms in Illinois and Indiana, which are expected to come online in 2019 and 2020, respectively. According to a July 3 press release, EDP Renewables' PPAs are with three commercial and industrial companies.

According to S&P Global Market Intelligence data, EDP Renewables has the planned Broadlands Wind Project, a 302-MW facility in Douglas, Ill., and the planned Meadow Lake VI Wind Farm Project, a 200-MW facility in Benton, Ind. The Broadlands Wind Project has a PPA with Wabash Valley Power Association Inc. for 100 MW of capacity, while the Meadow Lake Project has two PPAs with Nestle USA Inc. and Wabash Valley for a combined 125 MW of capacity.

The execution of the contracts means EDP Renewables has met several strategic goals. It has signed 2,100 MW of PPAs in the U.S., surpassing its original goal of signing 1,800 MW in long-term contracts for projects installed between 2016 and 2020. In addition, the company has also surpassed its target to add 3,500 MW of renewable energy in the period by 100 MW.