EDPR sells operations in Brazil to parent company EDP, reinforcing focus on A-rated growth markets
Madrid, May 19th 2026: EDP Renewables, S.A. (“EDPR”) informs on the signing of an agreement for the sale of 100% of its subsidiary EDP Renováveis Brasil, S.A. (“EDPR Brasil”), which includes all EDPR’s operating and development activities in Brazil, to EDP – Energias do Brasil S.A. (“EDP Brasil”), a fully owned subsidiary of EDPR’s controlling shareholder EDP, S.A. (“EDP”), for a total consideration of c.R$4.1 billion (c.€0.7 billion, considering a 6.0 EUR/BRL exchange rate), subject to customary adjustments until closing of the transaction, which implies an enterprise value of c.€1.5 billion.
EDPR Brasil operates a total installed capacity of 1.8 GW (1.1 GW wind onshore and 0.7 GW solar utility scale). Given the limited market prospects for greenfield utility-scale renewables development in Brazil, EDPR 2026-2028 business plan did not include any capacity growth target in this market.
Closing of the transaction is expected by year‑end 2026, subject to customary conditions precedent for a transaction of this nature. Expected EBITDA for EDPR Brasil in 2027 is c.R$0.8 billion (c.€0.1 billion) and the transaction is expected to be earnings accretive to EDPR by around low to mid-single digit from year 1.
This transaction enables EDPR to reinforce its focus on A-rated growth markets for Wind, Solar and BESS, whose weight in EBITDA increases from 90% to more than 95%, mostly in US and Europe. The associated improvement of financial leverage supports flexibility on the execution plan for investments, asset rotations and disposals by EDPR.
The transaction price and terms were agreed at arm’s length, being supported by fairness opinions from independent financial advisors. The transaction was subject to the appropriate procedures and approvals by EDP and EDPR corporate bodies required in the context of a transaction between related parties, including the issuance of a report by the Audit, Control and Related Parties Committee of EDPR, enclosed in annex hereto. Under the agreement, which has been entered into on this date and aligned with EDP/EDPR related parties framework agreement, established at EDPR’s IPO in 2008, EDPR may re-enter the Brazilian renewables market via partnership with EDP.
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 and in accordance with the legal framework applicable to related-party transactions set out in the Spanish legislation.
EDP Renewables, S.A.