EDP signs Asset Rotation deal for a 300 MWac solar portfolio and 92 MW storage portfolio in the US
Lisbon, January 2nd 2025: EDP, S.A. (“EDP”), through its 71.3% owned subsidiary EDP Renováveis, S.A. (“EDPR”), signed a Sale and Purchase Agreement with a major energy global player to sell a 49% equity stake of class B shares in a portfolio of 300 MWac (406 MWdc) of 2 operating solar projects and 92 MW of an electricity storage facility.
The two solar projects were commissioned in 4Q24 while the storage facility is under construction and expected to be commissioned in 4Q25. The projects are located in California, in US, and share the same grid connection infrastructure with the storage facility.
Total Enterprise Value for 100% of the portfolio amounts to $0.6 billion.
The transaction is subject to conditions precedent, regulatory and other usual conditions for a transaction of this nature.
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.