EDP Renováveis S A : EDPR signs Asset rotation deal of a 181 MW operating wind portfolio in Spain

Madrid, November 15^th 2021: EDP Renováveis, S.A. ("EDPR") signed a Sale and Purchase Agreement with China Three Gorges ("CTG") to sell a 100% equity stake in a 181 MW operating wind portfolio located in Spain for an estimated Enterprise Value of €307 million (subject to customary closing adjustments).

The transaction scope comprises twelve wind farms 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 estimated Enterprise Value of €307 million, which translates into an Enterprise Value of €1.7 million/MW.

The transaction is subject to regulatory and other customary precedent conditions.

With this transaction, EDPR has already secured €2.6bn of Asset rotation proceeds within the context of the €8bn Asset rotation program announced in EDPR Capital Markets Day, allowing EDPR to accelerate value creation while recycling capital to reinvest in accretive growth.