Ocean Winds, owned in a 50% by EDPR, wins 400 MW PPA in the US
It has been awarded to the Mayflower Wind, the developer of the offshore wind project in joint venture (50/50) between Shell New Energies and Ocean Winds (OW).
With today’s announcement, EDPR increases its visibility on growth in wind offshore with 0.5 GW already operating and 3.5 GW of capacity secured to be installed.
Boston, 17 December 2021. EDP Renewables (Euronext: EDPR), the world’s fourth largest renewable energy producer, announces that Ocean Winds, the 50/50 Offshore JV owned by EDPR and ENGIE, has secured a 400 MW Power Purchase Agreement (PPA) for Mayflower Wind Energy LLC. This joint venture company, currently owned by Ocean Winds (50%) and by Shell New Energies (50%), will deliver clean offshore wind energy to Massachusetts.
These 400 MW of PPA are on top of the already 804 MW secured capacity announced to the market on October 30th, 2019. In total, Mayflower has now 1,204 MW of secured capacity.
Mayflower Wind, when fully operational, will produce enough electricity to power 800,000 homes annually, create 14,000 jobs, result in economic development, and eliminate up to 4 million metric tons of greenhouse gases each year. Therefore, Mayflower Wind will help Massachusetts’ reach its clean energy goals to achieve net zero emissions in 2050.
With today’s announcement, EDPR increases its visibility on growth in wind offshore with 0.5 GW already operating and 3.5 GW of capacity secured to be installed, thereby enhancing and diversifying EDPR’s long-term profitable growth options while maintaining a balanced risk profile.
About EDP Renewables (EDPR)
EDP Renewables (Euronext: EDPR), is a global leader in the renewable energy sector and the world’s fourth-largest renewable energy producer. With a sound development pipeline, first class assets, and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 25 international markets (Belgium, Brazil, Canada, Colombia, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain, Hungary, Chile, Vietnam, Singapore, Malaysia, Indonesia, Thailand, Cambodia, China, Taiwan, Japan the United Kingdom, and the United States).
EDPR is committed to furthering social advances in terms of sustainability and integration. This is reflected by the inclusion of the company in the Bloomberg Gender Equality index and the fact that it has been certified as a Top Employer 2020 in Europe (Spain, Italy, France, Romania, Portugal, and the United Kingdom) and a Top Workplace 2020 in the United States, both of which recognize its employee-driven policies.
Energias de Portugal, S.A. (“EDP”), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation, and sustainability. EDP has been included in the Dow Jones Sustainability Index for 14 consecutive years and was recently recognized as the world’s most sustainable electric utility in the Dow Jones index.
About Mayflower Wind
Mayflower Wind, a 50/50 joint venture between Shell New Energies US LLC and Ocean Winds, is developing an offshore wind lease area with the potential to supply over 2,000 megawatts (MW) of low-cost clean energy to electricity customers in New England. Mayflower Wind is committed to zero harm, innovation, and industry development, and investing in our local communities. For more information visit http://www.mayflowerwind.com.
About Ocean Winds
Oceans Wind (OW) is a 50-50 offshore wind joint venture, owned and created by EDP Renewables and ENGIE. Both companies believe that offshore wind energy has become an essential part of the global energy transition, leading to rapid growth in the sector and increased competitiveness. That is why they have grouped all their existing and pipeline offshore portfolio into the new company.
OW has a strategic advantage and is well-positioned to play a leading role in the offshore market. EDPR and ENGIE are combining their offshore wind assets and project pipeline in OW, starting with a total of 1.5 GW under construction and 4 GW under development, with the target of reaching 5 to 7 GW of projects in operation or under construction and 5 to 10 GW in the advanced development stages by 2025.
OW, headquartered in Madrid, is currently present in 8 countries, primarily targets markets in Europe, the United States and selected parts of Asia, from where most of the growth is expected to come.
