EDP Renováveis S A : EDPR completes Asset rotation deal of a 405 MW wind portfolio in the US for an EV (100%) of $0.7bn
July 01, 2021 at 02:17 am EDT
Share
Madrid, July 1st 2021: Following the information released to the market on April 9th 2021, 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 EDPR
Capital Markets Day, allowing EDPR to accelerate value creation while recycling capital to reinvest in accretive growth.
EDP Renováveis, S.A.
Attachments
Original document
Permalink
Disclaimer
EDP Renovaveis 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 06:16:07 UTC.
EDP Renováveis, S.A. (Euronext: EDPR) is the fourth largest renewable energy producer worldwide with presence in 28 markets across Europe, North America, South America and Asia/Pacific.
Based in Madrid and with main regional offices in Houston, São Paulo and Singapore, EDP Renováveis, S.A. has a robust development portfolio with first class assets and a market-leading operational capability in renewables. These include wind onshore, utility scale & distributed solar, wind offshore (through its 50/50 JV - OW) and technologies complementary to renewables such as batteries and green hydrogen.
EDPR's employee-centered policies resulted in its recognition as a Top Workplace 2023 in the United States, Top Employer 2023 in Europe (Spain, Italy, France, Romania, Greece, Portugal and Poland) Colombia and Brazil, as well as its inclusion in the Bloomberg Gender-Equality Index.
EDPR is a division of EDP (Euronext: EDP), a leader in the energy transition with a focus on decarbonization.
EDP RENOVÁVEIS, S.A. 
