The tender for this contract was announced in May 2023 by renewable energy company EDA Renováveis, SA. The value of the contract was estimated at EUR 44 million. The contract was signed on 27 August 2024.
“The signing of this contract represents a decisive milestone on the path towards the energy transition in the Azores, consolidating the Region’s commitment to a more sustainable and resilient future. The completion of the new Pico Vermelho Geothermal Power Plant will not only double the installed capacity in Pico Vermelho, but will also reinforce our island region’s leadership in the production of clean energy,” says the official statement from the contract signing.
“This project, which also represents a technical breakthrough, is an essential step towards ensuring a greener, safer and more independent energy future for future generations. This is a moment that demonstrates that the Region is at the forefront of the fight against climate change.”
The new power plant will be supplied by geothermal fluids from wells PV12, PV13, and PV14, which had already been drilled and proven to support the additional 12 MW of capacity. The expansion will significantly increase the production of electricity from renewable sources on the island of São Miguel, with significant contributions to the Azorean energy mix.
