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    EDPR   ES0127797019

EDP RENOVÁVEIS, S.A.

(EDPR)
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EDP Renováveis S A : EDPR signs asset rotation deal of a 221 MW wind portfolio for an enterprise value of 532 million euros

07/21/2021 | 03:28pm EDT
EDPR signs asset rotation deal of a 221 MW wind portfolio for an enterprise value of 532 million euros
Miércoles21, Julio 2021

The company has completed the sale to Onex Renewables of a 100% equity stake in a wind portfolio located in Portugal.

This transaction will contribute with 532 million euros of asset rotation proceeds and is within the context of the 8 billion euros asset rotation program for 2021-25 announced in EDPR Capital Markets Day.

EDP Renewables (Euronext: EDPR), the fourth largest renewable energy producer in the world, has signed a sale and purchase agreement with Onex Renewables S.a.r.l. ('Onex') to sell a 100% equity stake in a 221 MW wind portfolio located in Portugal for an estimated enterprise value of 532 million euros (subject to customary closing adjustments).

The transaction scope comprises five wind farms, with an average age of 1.4 years as of 2021YE, out of which three are in operation and two are under construction with expected CoD until 2021YE. The five wind farms will be managed upon completion by Exus Management Partners who has a strong presence in Iberia.

The total consideration for the transaction corresponds to an estimated enterprise value of 532 million euros, which translates into an enterprise value of 2.4 million euros/MW.

The transaction is subject to regulatory and other customary conditions. Furthermore, it will contribute with approximately 532 million euros of asset rotation proceeds and is in the context of the 8 billion euros asset rotation programme for the period 2021-25 announced at EDPR's Capital Markets Day, which will enable EDPR to accelerate value creation while recycling capital for reinvestment in value accretive growth.

Disclaimer

EDP Renovaveis SA published this content on 21 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2021 19:27:08 UTC.


© Publicnow 2021
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Sales 2021 1 851 M 2 170 M 2 170 M
Net income 2021 542 M 635 M 635 M
Net Debt 2021 3 448 M 4 042 M 4 042 M
P/E ratio 2021 38,6x
Yield 2021 0,40%
Capitalization 21 286 M 24 925 M 24 956 M
EV / Sales 2021 13,4x
EV / Sales 2022 12,2x
Nbr of Employees 1 970
Free-Float 25,0%
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Last Close Price 22,16 €
Average target price 22,57 €
Spread / Average Target 1,84%
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Miguel Stilwell de Andrade Vice Chairman & Chief Executive Officer
Rui Manuel Rodrigues Lopes Teixeira Chief Financial Officer & Director
António Sarmento Gomes Mota Independent Chairman
António do Pranto Nogueira Leite Lead Independent Non-Executive Director
Acácio Jaime Liberado Mota Piloto Independent Non-Executive Director