EDP completes asset rotation deal for a 340 MWac solar portfolio in the US
Lisbon, February 15th 2024:Following the information released to the market on January 4th 2024, EDP - Energias de Portugal, S.A. (“EDP”), through its 71.27% owned subsidiary EDP Renováveis, S.A. (“EDPR”), has completed today the sale to a global energy player of an 80% equity stake in a portfolio of 340 MWac from 3 operating solar projects, 2 in Ohio and 1 in Texas, for an Enterprise Value of $0.4 billion (for the 80% stake).
With the conclusion of this agreement, EDPR has executed and signed ~35% of the €7 billion Asset rotation program for 2023-26 as 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.