EDPR informs about Asset Rotation through Build & Transfer of Solar Park in the US
Madrid, December 27th 2022: Following the information released to the market on March 22nd 2021, EDP Renováveis, S.A. (“EDPR”), through its fully owned subsidiary EDP Renewables North America LLC (“EDPR NA”), is pleased to announce that following initial mechanical completion of the 200 MWac Indiana Crossroads Solar Park, located in the US state of Indiana, it has transferred the control of the park to Northern Indiana Public Service Company LLC (“NIPSCO”) under a Build & Transfer Agreement, for a transaction price of $0.3bn, representing an EV/MW of $1.5m/MW.
EDPR has already secured €3.4bn 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.