December 16, 2010 / 5:59 PM / 8 years ago

Portugal's EDPR seals new U.S. power deals

LISBON, Dec 16 (Reuters) - EDP Renewables (EDPR.LS), the wind energy subsidiary of Portugal’s main utility EDP (EDP.LS), signed two new long-term sales contracts in the United States, just days after a similar deal boosted its shares.

EDPR said in a statement on Thursday the 20-year power purchase agreements guarantee sales of 175 megawatts of energy from its wind parks in the states of Indiana and Illinois.

“In 2010, EDP has signed long-term contracts worth more than 840 megawatts, reducing the company’s exposure to short-term volatility of energy prices in the north American market,” EDPR said in the statement issued after the market close.

Its shares rose sharply on Monday after the company announced a five-year deal to sell 198 megawatts of energy from a wind park in Illinois. [ID:nLDE6BC1S8]

EDPR shares edged up 0.2 percent on Thursday to 4.39 euros, outperforming the broader market in Lisbon, which closed 0.7 percent lower.

EDPR produces wind power in various countries including the United States, Brazil, Spain and France. (Reporting by Daniel Alvarenga; Writing by Andrei Khalip; Editing by David Holmes)

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