EDP closes Asset Rotation deal for a 257 MW wind portfolio in Spain
EDP closes Asset Rotation deal for a 257 MW wind portfolio in Spain
Lisbon, July 25th 2023: EDP - Energias de Portugal, S.A. (“EDP”), through its 71.27% owned subsidiary EDP Renováveis, S.A. (“EDPR”), has closed the sale of a 257 MW wind portfolio in Spain to Verbund AG (“Verbund”) for an Enterprise Value of €0.46 billion as of 31/12/2022.
The transaction scope comprises 9 operating wind farms with an average age of 14 years and with the potential for repowering and additional hybrid solar capacity. The assets sold were part of the acquisition of the renewable business of Viesgo, closed on December 2020.
This transaction comes in the context of the €7 billion Asset rotation program for 2023-26 announced in EDP’s Capital Markets Day in March 2023, allowing EDP to accelerate value creation while recycling capital to reinvest in accretive growth.
This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council.
EDP – Energias de Portugal. S.A.