EDPR informs on completion of Asset Rotation deal for a renewables portfolio in Italy
Madrid, July 17th 2024: Following the information released to the market on June 29th 2024, EDP Renováveis, S.A. ("EDPR”) is pleased to announce the completion of a Sale and Purchase Agreement with PLT Rew 2 S.r.l., an industrial Italian player and a subsidiary of PLT Energia, to sell a 100% equity stake of a 191 MW wind portfolio in Italy for an Enterprise Value of €0.4 billion.
The transaction scope comprises 7 operating wind farms located in the south of Italy in operation for an average of 1.4 years, 5 projects benefit from a regulated tariff (“CfD”) and 2 from a PPA.
With the conclusion of this agreement, EDPR has executed >15% of the ~€6 billion program for 2024-26 presented in May 2024 Business Plan Update, 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.