EDP informs about signing of Asset Rotation deal for a 240 MW renewables portfolio in Poland
Lisbon, August 2nd, 2024: EDP, S.A. (“EDP”), through its 71.3% owned subsidiary EDP Renováveis, S.A. (“EDPR”), informs on the signing of a Sale and Purchase Agreement with Orlen Wind 3, a company owned by Orlen S.A. (“Orlen”), to sell a 100% equity stake of a 240 MWac (306 MWdc) wind and solar portfolio in Poland, for an estimated Enterprise Value of PLN1.15 billion (around €0.3 billion).
The portfolio includes 184 MWac (240 MWdc) from 2 solar projects commissioned in 2023, 26 MW from 1 operating wind project commissioned in 2022 and 30 MWac (40 MWdc) from 1 solar project to be commissioned in 2024.
The deal is subject to regulatory and other customary precedent conditions.
This Asset rotation comes in the context of the ~€7 billion program for 2024-26 presented in May 2024 Business Plan Update, 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, S.A.