EDP Renováveis SA (EDPR), through its fully owned subsidiary EDP Renewables North America LLC, secured a 20-year Power Purchase Agreement (PPA) to sell the energy produced from its 80-MW Rising Tree wind farm project to an unnamed party.
EDPR said in a brief Aug. 27 statement that the project is located in California and expected to be installed in 2014. With this new arrangement EDPR said it has already secured 0.4 GW of PPAs for projects to be installed in 2014-15.
EDPR said it continues to execute a flexible business and adjusting growth to the most attractive countries. The development of wind energy in the U.S. has been experiencing a more favorable environment following the extension by Congress in January 2013 of the federal Production Tax Credit (PTC), which is creating new growth opportunities for EDPR in the short-term, the company added. Under that extension, projects need to be in construction by the end of this year.
The Federal Energy Regulatory Commission in a May 22 letter to Southern California Edison signed off on a large generator interconnection agreement with Rising Tree Wind Farm LLC, the developer of a 199-MW wind project. The proposed commercial operation date for the project is Oct. 31, 2015. The filing at FERC indicated that Rising Tree Wind Farm is affiliated with EDP Renewables North America.