EDP Renováveis S A : EDPR informs about completion of Asset rotation deal
December 30, 2021 at 02:57 pm EST
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Madrid, December 30th 2021: Following the information released to the market on September 2nd 2020, EDP Renováveis, S.A. ("EDPR") is pleased to announce the completion of the sale to Connor, Clark & Lunn Infrastructure of an 80% equity shareholding in the Riverstart Solar project (200 MWac) located in the US state of Indiana.
The transaction scope announced on September 2nd 2020 included four wind projects totalling 363 MW (Meadow Lake V, Quilt Block, Redbed Plains and Hog Creek), which reached completion and were announced on December 28th 2020, and the 200 MWac Riverstart Solar project which has now reached completion, fully completing the transaction of an 80% equity shareholding in a wind and solar portfolio located in the US with 563 MW (450 MW net).
The total consideration of the Riverstart transaction corresponds to an Enterprise Value (100%) of $305 million, which translates into an Enterprise Value of $1.5 million/MW.
The Riverstart transaction will contribute with c.€0.2 billion 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.
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EDP Renovaveis SA published this content on 30 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 December 2021 19:56:02 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. 
