EDP Renewables Enters Mexican Wind Market

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EDP Renewables (EDPR) says it has entered the Mexican wind energy market, having established a 25-year power purchase agreement for a wind farm it is developing in the country. Mexican mining company Industrias Penoles has signed up to buy energy produced by a wind project that EDPR says is currently designed for 180 MW.

According to the developer, the project, located in the State of Coahuila in the north of Mexico, has an expected load factor above 40%. EDPR adds that it believes Industrias Penoles is a company with a solid financial position and creditworthiness, and the agreement provides EDPR with "an attractive and low-risk opportunity to enter the Mexican market in a sizable and robust way."

EDPR expects to install the wind farm in 2016. The company did not disclose further details.

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