BRIEF-EDPR Closes Sale Of 49% Stake In 1.6 GW Portfolio In US

Oct 3 (Reuters) – EDP Renovaveis SA: * COMPLETION OF ASSET ROTATION DEAL FOR A 1.6 GW PORTFOLIO IN US * TOTAL ESTIMATED ENTERPRISE VALUE FOR 100% OF PORTFOLIO AMOUNTS TO ABOUT $2.9 BILLION * CLOSED AGREEMENT TO SELL A STRAIGHT 49% COMMON EQUITY STAKE IN A 1,632 MW PORTFOLIO IN US TO A FUND MANAGED BY ARES INFRASTRUCTURE OPPORTUNITIES STRATEGY * EDPR WILL RECEIVE ABOUT $0.8 BILLION IN PROCEEDS * PORTFOLIO COMPRISES FIVE PROJECTS IN OPERATION, AS WELL AS FIVE PROJECTS CURRENTLY UNDER CONSTRUCTION, WITH COMMERCIAL OPERATION DATES UNTIL 2026 Source text Further company coverage: (Gdansk Newsroom)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)