Conclusion of Asset Rotation Deal of a 172 MW Wind Portfolio in Italy
Conclusion of Asset Rotation Deal of a 172 MW Wind Portfolio in Italy
Lisbon, September 9th, 2022:Following the information released to the market on July 29th 2022,EDP - Energias de Portugal, S.A. (“EDP”), through its 74.98% owned subsidiary EDP Renováveis, S.A. (“EDPR”), has completed the sale to ERG, S.p.A. (“ERG”) of a 100% equity stake in a 172 MW operating wind portfolio located in Italy. The portfolio consists of seven operating wind farms with an average age of around 3 years and that benefit from a stable remuneration scheme during a 20-year period.
The total consideration of the transaction corresponds to an Enterprise Value (100%) of around €420 million as of 31/12/2021.
With this transaction, EDP has already secured €3.1bn of Asset rotation proceeds within the context of the €8bn Asset rotation program for 2021-2025 announced in EDP Capital Markets Day on February 2021, 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.