EDP Renováveis, S.A. starts a construction of 30 MW of its first solar PV in the United States. The projects, acquired in 2013 by EDPR in late stage of development from Lincoln Renewable Energy, have 20-year Power Purchase Agreements (PPA) with Southern California Edison and are expected to be installed in 2014. Located in Southern California, the projects benefit from some of the highest solar irradiance in the state and based on its prime locations, EDPR expects a load factor above 30%.
The Lone Valley Solar Project supports EDPR’s strategic agenda of selectively diversifying growth into new renewable technologies. EDPR already owns 50 MW of solar PV in Romania, installed in 2012 and 2013.
“The company is consistently committed to those combinations of markets and technologies where we see a clear positive path in the future. This announcement once again serves to confirm our strategy in this regard,” said João Manso Neto, CEO of EDP Renováveis.