EDP signs Asset Rotation deal for a 191 MW renewables portfolio in Italy
EDP signs Asset Rotation deal for a 191 MW renewables portfolio in Italy
Lisbon, June 29th, 2024: EDP, S.A. (“EDP”), through its 71.3% owned subsidiary EDP Renováveis, S.A. (“EDPR”), signed a Sale and Purchase Agreement with PLT Rew 2 S.r.l., an industrial Italian player and a subsidiary of PLT Energia, to sell a 100% equity stake of a 191 MW wind portfolio in Italy for an estimated Enterprise Value of €0.4 billion.
The transaction scope comprises 7 operating wind farms located in the south of Italy in operation for an average of 1.4 years, 5 projects benefit from a regulated tariff (“CfD”) and 2 from a PPA.
The deal is subject to customary precedent conditions.
This Asset Rotation comes in the context of the ~€7 billion program for 2024-26 presented in May 2024 Business Plan Update, 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, S.A.