EDP Renovaveis SA (ELI:EDPR) announced today it has signed a power purchase agreement (PPA) for the output of the future 200-MW Los Cuervos solar photovoltaic (PV) park in Mexico.
The PPA is denominated in US dollars and will run for a minimum 15 years. The off-taker is Ammper Energia S.A.P.I de C.V. (Ammper), a qualified service provider in the new Mexican electricity market, the renewables arm of Portuguese power utility EDP – Energias de Portugal SA (ELI:EDP) said.
The Los Cuervos plant is expected commence operations in early 2021. With capacity that is already installed and other formalised projects, EDPR expects to reach 500 MW in Mexico in 2021.
The renewables company has a target to install close to 7 GW of wind and solar capacity worldwide between 2019 and 2022. With the latest off-take arrangement, around 80% of the targeted capacity is covered by PPAs, EDPR said.