EDP signs asset rotation deal for a 340 MWac solar portfolio in the US
Lisbon, January 4th 2024: EDP - Energias de Portugal, S.A. (“EDP”), through its 71.27% owned subsidiary EDP Renováveis, S.A. (“EDPR”), has signed a Sale and Purchase Agreement with a global energy player to sell an 80% equity stake in a portfolio of 340 MWac from 2 operating solar projects in Ohio and 1 operating solar project in Texas.
The total consideration of the transaction corresponds to an Enterprise Value of $0.4 billion (for the 80% stake).
The transaction is subject to conditions precedent, regulatory and other usual conditions for a transaction of this nature.
With the transaction announced today, EDP has executed and secured >25% 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.