EDPR sells 13.5% stake in French offshore wind projects | edp.com

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 and of article 248-A of the Portuguese Securities code, EDP - Energias de Portugal, S.A. (“EDP”) is providing the following information to the market:

EDP Renováveis, S.A. (“EDPR”), 82.6% controlled by EDP, announces the sale of a 13.5% equity stake in both Yeu-Noirmoutier and Dieppe-Le Tréport french offshore wind projects to SRPN SAS and SRPT SAS, two companies owned by Sumitomo Corporation (“Sumitomo”). Sumitomo is a Japanese industrial group positioned in the wind energy sector in Japan, Europe, United-States, South-Africa and China.

As part of this transaction, EDPR reduces its shareholding to 29.5% in both projects in exchange of a €42.8m payment upfront, which can increase over time as predefined conditions are met.

Yeu-Noirmoutier and Dieppe-Le Tréport offshore wind farms projects have an expected capacity of 496 MW each and were selected, in April 2014, by the French Government to be developed, constructed and operated. Currently under development both projects are expected to reach commercial operating date over the first half of next decade.

EDP – Energias de Portugal, S.A.