EDP informs on the completion of Asset Rotation deal for a 191 MW renewables portfolio in Italy
EDP informs on the completion of Asset Rotation deal for a 191 MW renewables portfolio in Italy
Lisbon, July 17th, 2024: Following the information released to the market on June 29th 2024, EDP, S.A. (“EDP”), through its 71.3% owned subsidiary EDP Renováveis, S.A. (“EDPR”), informs on the completion of a Sale and Purchase Agreement with PLT Rew 2 S.r.l., an industrial Italian player and a subsidiary of PLT Energia, to sell a 100% equity stake of a 191 MW wind portfolio in Italy for an Enterprise Value of €0.4 billion.
The transaction scope comprises 7 operating wind farms located in the south of Italy in operation for an average of 1.4 years, 5 projects benefit from a regulated tariff (“CfD”) and 2 from a PPA.
With the conclusion of this agreement, EDP has executed >15% of the ~€6 billion program for EDPR in 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.