EDP announces upsize to 80% stake of the 405 MW Asset Rotation in the US
EDP announces upsize to 80% stake of the 405 MW Asset Rotation in the US
Lisbon, September 8th, 2021:EDP - Energias de Portugal, S.A. (“EDP”), through its 74.98% owned subsidiary EDP Renováveis, S.A. (“EDPR”), is pleased to announce the completion of the sale to funds managed by Greencoat Capital of an additional 12% equity stake in a wind portfolio located in the United States, comprising two operating winds farms totalling 405 MW.
This transaction was signed and completed under the same terms of the 68% equity stake announced on July 1st 2021, resulting in an upsize of the overall Asset Rotation deal to an 80% equity stake.
With this transaction, EDPR has already secured €2.3bn of Asset Rotation proceeds within the context of the €8bn Asset Rotation program announced in EDPR Capital Markets Day, allowing EDPR 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 and of article 248-A of the Portuguese Securities code.
EDP – Energias de Portugal. S.A.