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    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.


      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.


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