EDP Renováveis signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

The agreement, signed with NIPSCO, enables the the development and construction of a solar park in Indiana, which is scheduled to reach COD by 2022.

The deal will contribute to the 2021-25 asset rotation programme announced by EDPR at its last Capital Market’s Day.

EDPR has now 2.5 GW of capacity secured in the U.S. which will enter in operation from this year. 
 

EDP Renováveis, SA (“EDPR”), global leader in the renewable energy sector and the world’s third-largest wind energy producer, through its fully owned subsidiary EDP Renewables North America LLC, has signed a Build & Transfer Agreement with Northern Indiana Public Service Company LLC (“NIPSCO”).

The agreement enables the development and construction of EDPR’s 200 MWac Indiana Crossroads Solar Park in the U.S. state of Indiana, which is expected to reach COD by 2022, when the Build & Transfer agreement would be completed.

With this agreement, EDPR has now 2.5 GW of capacity secured in the U.S. which will enter in operation from 2021 onwards.

The Build-Transfer Agreement reached with NIPSCO adds to the 15-year PPA that EDPR announced on 1 March. This agreement includes the sale of the energy produced by the 204 MW Indiana Crossroads II Wind project, which is also located in the state of Indiana and is expected to start operations in 2023.

Completion of this transaction is subject to regulatory approval and other customary closing conditions for a transaction of this nature.

The deal announced today will also contribute to the asset rotation program 2021-25 disclosed in the Capital Market’s Day held on February 25^th, 2021.