EDP Renewables, Microsoft execute wind energy agreement in Ohio

Agreement brings Microsoft's total renewable portfolio to nearly 1.4 gigawatts

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Mar 07, 2019, 08:00 ET

HOUSTON, and REDMOND, Wash., March 7, 2019 /PRNewswire/ -- EDP Renewables SA (EDPR), through its fully owned subsidiary EDP Renewables North America LLC, and Microsoft Corp. have executed two 15-year power purchase agreements (PPA) totaling 125 megawatts (MW) that will bring the Timber Road IV Wind Farm to Ohio's Paulding County. These PPAs are included in the announcement EDPR issued on July 24, 2018.

The 125 MW Timber Road IV Wind Farm is expected to be operational in 2019 and will produce enough clean electricity to annually power more than 36,000 average Ohio homes. The wind farm will also yield employment opportunities — approximately 200 full-time equivalent jobs during construction (expected to commence in several months following approval from the Ohio Power Siting Board on Feb. 21, 2019) and seven full-time positions during operations. In addition, the new wind farm will generate approximately $1.1 million each year in annual property tax revenue for the local government as well as land lease payments to area farmers and landowners.

"Bringing new wind projects online, particularly in states with relatively few projects but strong potential for growth, delivers both economic benefits and environmental progress in the near term and well into the future," said Brian Janous, general manager, Energy and Sustainability at Microsoft. "We are constantly looking for opportunities where our corporate demand can not only be met but can also accelerate the transition to renewable sources. EDPR has done great work in Ohio, and we're pleased to partner with them to grow this market."

These agreements with EDPR bring Microsoft's directly purchased renewable energy portfolio to nearly 1.4 gigawatts (GW). Timber Road IV Wind Farm is Microsoft's fifth project in the larger PJM region.

"Microsoft exemplifies admirable energy supply and sustainability goals, and EDP Renewables is proud to partner with it to accelerate its efforts to power its datacenters with renewable energy sources," said Miguel Prado, EDP Renewables North America CEO. "Agreements like these are a prime example of EDP Renewables' ability to work with corporate customers to help them achieve their renewable energy targets and reduce carbon emissions."

The Timber Road IV Wind Farm will be EDPR's fourth operational wind farm in Ohio and its third operational wind farm in Paulding County. The four wind farms total 392 MW, contributing to more than 40 percent of the state's installed wind capacity. EDPR's three operational Ohio wind farms power 76,000 average Ohio homes and represent an estimated capital investment of $503 million. The operational wind farms have paid more than $6 million to local governments to date and $16.1 million to landowners through 2017. It is estimated that $93 million has also been spent in local Ohio communities within 50 miles of the wind farms.

"We applaud this partnership between EDP Renewables and Microsoft that will allow Microsoft to power its operations on the larger PJM grid with clean, homegrown wind energy from Paulding County," said Dana Saucier, JobsOhio's vice president and head of Economic Development. "Every day we see more and more companies choosing competitively priced renewable energy. Ohio has an excellent opportunity to provide it through arrangements like this that also serve to supplement local farm income, generate stable tax revenues for schools and local government, and create jobs and opportunity in some of Ohio's most rural communities."

About EDP Renewables
EDP Renewables (Euronext: EDPR) is a global leader in the renewable energy sector and the world's fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 13 markets (Belgium, Brazil, Canada, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain, the UK and the US). Energias de Portugal, S.A. ("EDP"), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDPR has been featured on the Dow Jones Sustainability Index for 11 consecutive years. For further information, please visit www.edpr.com.

About EDP Renewables North America
EDP Renewables North America LLC ("EDPR NA") and its subsidiaries develop, construct, own, and operate wind farms and solar parks throughout North America. Headquartered in Houston, Texas, with 48 wind farms, 5 solar parks, and 13 regional and development offices across North America, EDPR NA has developed more than 6,700 megawatts (MW) and operates more than 6,100 MW of renewable energy projects. EDPR NA is owned by EDP Renováveis, S.A. (EDPR). For more information, visit www.edprnorthamerica.com.

About Microsoft
Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

SOURCE Microsoft Corp.