EDP Renovaveis to cut 10% staff in North America

UNITED STATES: EDP Renovaveis is cutting up to 10% of its North American workforce, according to reports.

EDP said the cuts were part of a restructure at the company following a fall in demand for electricity. It was unable to comment on how it would affect its wind division.

EDP owns around 3.4GW of projects in the US.

An EDP spokesman has been reported at stating the company intended to put more emphasis on operations and less on project development.

Power purchase agreement (PPAs) to sell the power to utilities are still hard to come by, especially in areas with relatively high prices per MWh such as California and New England. Often PPAs can only be agreed by accepting a reduced price.