EDP Renováveis S A : EDPR acquires US solar distributed generation company and enters a new business segment

Madrid, January 18^th 2021. EDPR, through its fully owned subsidiary EDP Renewables North America, has entered into an agreement to acquire a majority interest in C2 Omega, the distributed solar platform of C2 Energy Capital.

In detail, EDPR will acquire an 85% equity stake in a solar generation portfolio that includes 89 MW of operating and imminent completion capacity and a near-term pipeline of around 120 MW, across near 200 sites in 16 states.

EDPR's investment in C2's distributed solar platform business corresponds to a total enterprise value of approximately $119m for the acquisition of the operating capacity (89 MW). The transaction will also include certain earn-out payments based on the growth in future operational capacity. C2's management team will continue to be engaged in the day-to-day operations of the business.

This transaction will allow EDPR to enter a rapidly expanding segment worldwide. The company will become an operator of one of the largest commercial and industrial distributed generation portfolios in the U.S., and will enable EDPR to serve a rapidly growing market and offer to its customers a range of new services and solutions to meet their renewable energy needs.