EDP Renováveis S A : EDPR informs about conclusion of Asset rotation of a wind portfolio in Spain
June 28, 2022 at 05:01 am EDT
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Madrid, June 27th 2022: Following the information released to the market on November 15th 2021, EDP Renováveis, S.A. ("EDPR") is pleased to announce 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 Renováveis, S.A.
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EDP Renovaveis SA published this content on 28 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2022 09:00:03 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.