EDPR lands 109-MW solar PPA with P&G in Italy

• EDP Renovaveis SA (ELI: EDPR) has authorized a long-term power purchase agreement (PPA) with United States durable 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 consisted of two solar (PV) parks approximately Lazio.

EDPR anticipates these solar projects to be up and running before the end of the year.

With this PPA, EDPR has actually protected around 35% of its goal for solar capacity additions, thus covering some 44% of the 17 GW of renewables enhancements target for the 2023-2026 duration.