EDPR informs about conclusion of Asset rotation deal of a 221 MW wind portfolio
Madrid, January 28th 2022: Following the information released to the market on July 21st, 2021, EDP Renováveis, S.A. (“EDPR”) is pleased to announce the completion of the sale to Onex Renewables S.a.r.l. (“Onex”) of a 100% equity stake in a 221 MW wind portfolio located in Portugal for an Enterprise Value of €534 million.
The transaction scope includes five wind farms, out of which 96 MW are in operation since 2018-19 and 125 MW have entered in operation in Dec-21.
The conditions precedent of the transaction were verified by December 31st, 2021, and the financial closing of the transaction has now been finalized.
This transaction contributes with €534 million 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.