Lisbon, May 26, 2026 (Lusa) - Portuguese energy utility, EDP, has signed an agreement with Appalachian Power, a subsidiary of American Electric Power, for the construction and sale of a solar project in the US valued at $300 million (approximately €258 million).

The agreement was concluded through its renewables unit, EDP Renovaveis, and is still subject to “precedent, regulatory and other conditions customary for a transaction of this nature”, according to the statement sent on Monday to the Portuguese Securities Market Commission (CMVM).

The transaction involves the construction and development of a 100-megawatt alternating current (MWac) solar plant, equivalent to approximately 136 megawatts direct current (MWdc), in the US, with commissioning scheduled for 2028, by which time the deal is expected to be finalised.

"This new agreement is yet another indicator of EDP’s strategic positioning in the US as a key player in the renewable energy sector" and reinforces "the strength of its partnerships with leading utility companies," the company said.

It added that the transaction contributes to greater visibility regarding gross capacity additions, proceedings and gains from asset rotation, in line with the return metrics defined for the 2026–2028 strategic plan period.

"Since 2019, EDP has completed four similar transactions in the US, two of which in the last six months," it concluded.

SCR/MYAL // AYLS

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