EDP Renovaveis SA (ELI:EDPR) has signed a long-term power purchase agreement (PPA) with US consumer goods giant Procter & Gamble Co (NYSE:PG) covering the output of a 109-MW solar portfolio in Italy.
According to the renewables arm of Portuguese utility EDP (ELI:EDP), the portfolio is comprised of two photovoltaic (PV) parks in the region of Lazio.
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EDPR expects these solar projects to be up and running before the end of the year.
With this PPA, EDPR has secured around 35% of its goal for solar capacity additions, thus covering some 44% of the 17 GW of renewables additions target for the 2023-2026 period.
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