EDP Renewables has signed a build and transfer agreement with Northern Indiana Public Service Company LLC (NIPSCO) for the 200MW Crossroads solar projects in the US state.
The agreement enables the development and construction of the project, which is expected to reach commercial operations by 2022.
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 2 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 25, 2021.
With this agreement, EDPR now has 2.5GW of capacity secured in the US which will enter in operation from 2021 onwards.