EDP Energias de Portugal S A : completes Asset Rotation of a 181 MW wind portfolio in Spain for an EV of €0.3bn
06/27/2022 | 03:15pm EDT
EDP completes Asset Rotation of a 181 MW wind portfolio in Spain for an EV of €0.3bn
Monday27, June 2022
Lisbon, June 27th, 2022:EDP - Energias de Portugal, S.A. ("EDP"), through its 74.98% owned subsidiary EDP Renováveis, S.A. ("EDPR") informs of,following the information released to the market on November 15th 2021, the completion of the sale to China Three Gorges ("CTG") of a 100% stake in a 181 MW operating wind portfolio located in Spain. The portfolio consists of twelve wind farms already in operation which are under the Spanish 20-year regulated remuneration scheme. The average age of the portfolio is 12 years.
The total consideration of the transaction corresponds to an Enterprise Value (100%) of €328 million, which translates into an Enterprise Value of €1.8 million/MW.
With the conclusion of this transaction, EDPR achieves €2.4bn of Asset Rotation proceeds within the context of the €8bn Asset rotation program for 2021-25 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.
EDP - Energias de Portugal SA published this content on 27 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 June 2022 19:14:03 UTC.