EDPR Sells 80% of US Solar Portfolio

• EDPR's sale of 80% stake in 340-MW US solar portfolio is an exciting move towards its EUR 7 billion asset rotation programme. This USD 400 million deal marks a quarter of its goal, and will shape the future of energy.

EDP Renewables (EDPR) has announced the sale of an 80% stake in a 340-MW solar portfolio in the US to a major energy global player. The bundle comprises three operating solar farms located in Ohio and Texas. EDPR is selling the assets for an enterprise value of approximately USD 400 million, as part of its EUR-7-billion asset rotation programme for 2023-2026. This deal represents a quarter of its goal, and is subject to regulatory clearance.

What Is EDPR's USD 400 Million Solar Portfolio Sale?

• EDPR is a global leader in the renewable energy sector, with a presence in 14 markets across four continents: Europe, North America, Latin America, and Asia.
• The solar portfolio sold comprises three operating solar farms located in Ohio and Texas, totaling 340 MW of capacity.
• This deal is part of EDPR's EUR-7-billion asset rotation programme for 2023-2026.
• The sale is of an 80% stake in the solar portfolio, for an enterprise value of approximately USD 400 million.
• The sale is subject to regulatory clearance and is expected to close in the second quarter of 2021.
• This transaction is in line with EDPR's strategy of optimizing its asset portfolio, increasing the proportion of renewable energy projects in its global energy mix, and continuing its growth in the renewable energy sector.