António Gomes Mota is EDPR’s new Chairman

António Gomes Mota was appointed, at the general shareholders’ meeting, as independent Chairman and Miguel Stilwell de Andrade as Vice-Chairman of EDP Renováveis (EDPR), following the proposal by the company’s Nominations, Remunerations and Corporate Governance Committee. Likewise, the investors also chose Stilwell de Andrade as CEO and Rui Teixeira as CFO of EDPR.

“As a result of these resolutions, EDPR Board of Directors: Is composed of 12 members; Has an independent Chairman Mr. António Gomes Mota; Has only two executive members, Miguel Stilwell de Andrade and Rui Teixeira; Has a reinforced presence of independent Directors with 50% of Board representation; Has a reinforced presence of women with 33% of Board representation; Continues to have its Committees exclusively composed by independent Directors (Audit, Control and Related Parties Committee and Appointments, Remunerations and Corporate Governance Committee),” announced the company in a statement sent to CMVM.

At the general shareholders’ meeting, it was also approved “the execution of the share capital increase by means of cash contributions and exclusion of the pre-emptive subscription right for an amount of €441.250.000 by issuing and listing 88.250.000 new ordinary shares with a nominal value of €5 per share and a share premium of €12 per share, resulting in an aggregate issue price of €17 per share and cash contributions of €1,500,250,000.”

In the same statement, EDP Renováveis said that “the €1.5bn capital increase represents an important milestone for the execution of EDPR Business plan 2021-25 and will partially finance EDPR’s CAPEX plan of c.€19bn to deploy c.20 GW of renewables additions until 2025, as disclosed in the Capital Markets Day held on February 25t, 2021.”