EDP Renováveis receives €112m to construct and operate two wind farms in Portugal
14 January, 2021
The European Investment Bank (EIB) will provide €65m (£57.8m) and BPI an additional €47m (£41.8m) to EDP Renováveis SA (EDPR), to finance the construction and operation of two onshore wind farms with a total nominal capacity of 125MW in the districts of Coimbra and Guarda, Portugal.
EDPR will design, construct and operate two medium-scale wind farms: Tocha II, with a capacity of 33MW, and Sincelo, with a capacity of 92MW.
Once operational, the two wind farms will contribute to Portugal meeting its energy and climate plan targets, which will see 47% of renewable sources in gross final energy consumption by 2030, as well as the European Commission’s binding target of having at least 32% of final energy consumption coming from renewable sources by 2030.