04/09/2021 | Press release | Distributed by Public on 04/08/2021 23:51
EDP announces Asset Rotation deal of a 405 MW wind portfolio in the US for an EV (100%) of $0.7bn
- Bright Stalk with 205 MW, located in Illinois and in operation since 2019;
- Harvest Ridge with 200 MW, located in Illinois and in operation since 2020.
The total consideration of the transaction corresponds to an Enterprise Value (100%) of $720 million, which translates into an Enterprise Value of $1.8 million/MW (equivalent to $2.1 million/MW at projects' COD).
The transaction could potentially be upsized to an 80% equity stake between signing and closing, subject to agreement between both parties.
The transaction is subject to regulatory and other customary precedent conditions.
This transaction is within the context of the €8bn Asset rotation program announced in EDP Capital Markets Day, 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 and of article 248-A of the Portuguese Securities code.
EDP - Energias de Portugal, S.A.