Following the information released to the market on October 6th 2022, EDP Renováveis, S.A. ("EDPR”) is pleased to announce the completion to Sale and Purchase Agreement with Companhia Paranaense de Energia (“COPEL”) to sell a 100% equity stake in 2 operating wind projects that total 260 MW of capacity, situated in the state of Rio Grande do Norte, Brazil, for an estimated Enterprise Value of BRL1.8bn as of December 31st 2021 (€0.3 billion @5.51 EUR/BRL rate(1)).
With this transaction, 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.