Madrid, July 29th 2022: EDP Renováveis, S.A. ("EDPR") signed a Sale and Purchase Agreement with ERG, S.p.A. ("ERG") to sell a 100% the equity stake in a 172 MW operating wind portfolio located in Italy for an estimated Enterprise Value of around €420 million as of 31/12/2021, which will be adjusted with a cost of carry until the closing date.
The transaction scope comprises seven operating wind farms with an average age of 2.8 years and benefits from a stable remuneration scheme during a 20-year period.
The transaction is subject to regulatory and other customary precedent conditions.
With this transaction, EDPR has already secured €3.1bn of Asset rotation proceeds within the context of the €8bn Asset rotation program for 2021-25 announced in EDPR Capital Markets Day in February 2021, 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.
EDP Renovaveis SA published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 08:20:17 UTC.