Thursday, October 6 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Oct 03
Week of Sep 26
Week of Sep 19
Week of Sep 12
Week of Sep 05
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    EDP - EDP signs asset rotation deal for a 172 MW operating wind portfolio in Italy


    July 29, 2022 - Euronext Lisbon via PUBT

     

      EDP signs asset rotation deal for a 172 MW operating wind portfolio in Italy

      Friday29, July 2022

      EDP signs asset rotation deal for a 172 MW operating wind portfolio in Italy

      Lisbon, July 29th, 2022:EDP - Energias de Portugal, S.A. ("EDP"), through its 74.98% owned subsidiary EDP Renováveis, S.A. ("EDPR"), signed a Sale and Purchase Agreement with ERG, S.p.A. ("ERG") to sell a 100% equity stake in a 172 MW operating wind portfolio located in Italy for an estimated Enterprise Value of around €420 million as of 31 December 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, being subject to regulatory and other customary precedent conditions.

      With this transaction, EDP has already secured €3.1bn of Asset rotation proceeds within the context of the €8bn Asset rotation program for 2021-25 announced in EDP's Capital Markets Day in February 2021, allowing EDP 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 - Energias de Portugal. S.A.

      Disclaimer

      EDP - Energias de Portugal 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 07:07:41 UTC.

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.