EDP Renewables signs a build-transfer agreement with NIPSCO to develop a 200MWac solar park in Indiana

Spain — EDP Renováveis, SA, through its fully owned subsidiary EDP Renewables North America LLC, has signed a Build & Transfer Agreement with Northern Indiana Public Service Company LLC (“NIPSCO”).

The agreement enables the development and construction of EDPR’s 200 MWac Indiana Crossroads Solar Park in the U.S. state of Indiana, which is expected to reach COD by 2022 when the Build & Transfer agreement would be completed.

With this agreement, EDPR has now 2.5 GW of capacity secured in the U.S. which will enter in operation from 2021 onwards.

The Build-Transfer Agreement reached with NIPSCO adds to the 15-year PPA that EDPR announced on 1 March. This agreement includes the sale of the energy produced by the 204 MW Indiana Crossroads II Wind project, which is also located in the state of Indiana and is expected to start operations in 2023.

Completion of this transaction is subject to regulatory approval and other customary closing conditions for a transaction of this nature.

The deal announced today will also contribute to the asset rotation program 2021-25 disclosed in the Capital Market’s Day held on February 25th, 2021.