EDP signs Asset Rotation deal for renewables portfolio in Poland
EDP signs Asset Rotation deal for renewables portfolio in Poland
Lisbon, July 27th 2023: 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 Orlen Wind 3, a company owned by Orlen S.A. (“Orlen”), to sell a 100% equity stake in a portfolio of 142 MW from 3 operating wind farms that have been commissioned in 2021-22 and up to 159 MW of hybrid solar projects under development located in Poland for an estimated Enterprise Value of PLN2.20 billion (around €0.49 billion).
The transaction is subject to regulatory and other customary precedent conditions.
This transaction comes in the context of the €7 billion Asset rotation program for 2023-26 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.