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    EDP   PTEDP0AM0009

EDP - ENERGIAS DE PORTUGAL, S.A.

(EDP)
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EDP Energias de Portugal S A : completes Asset Rotation deal of a 405 MW wind portfolio in the US

07/01/2021 | 01:54am EST
EDP completes Asset Rotation deal of a 405 MW wind portfolio in the US
Thursday01, July 2021

EDP completes Asset Rotation deal of a 405 MW wind portfolio in the US

Lisbon, July 1st, 2021: Following the information released to the market on April 9th 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 a 68% equity stake in a wind portfolio located in the United States, comprising two operating winds farms totalling 405 MW, namely:


• Bright Stalk - 205 MW, located in Illinois and in operation since 2019;
• Harvest Ridge - 200 MW, located in Illinois and in operation since 2020.


The total consideration of the transaction corresponds to an Enterprise Value (100%) of $720 million, which translates into an Enterprise Value of $1.8 million/MW (equivalent to $2.1 million/MW at projects' COD).


This transaction will contribute with c.€500 million of Asset rotation proceeds and is within the context of the €8bn Asset rotation program for 2021-25 announced in EDP Capital Markets Day, 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 and of article 248-A of the Portuguese Securities code.


EDP - Energias de Portugal. S.A.

Disclaimer

EDP - Energias de Portugal SA published this content on 01 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2021 05:53:51 UTC.


© Publicnow 2021
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