With this operation, EDPR says it "has already secured €2.3 billion of asset rotation proceeds within the context of the €8 billion asset rotation program announced in Capital Markets Day."
EDP Renováveis (EDPR) announced on Wednesday the completion of the sale to funds managed by Greencoat Capital of an additional 12% equity stake in a wind portfolio located in the United States. This stake covers two operating wind farms totalling 405 MW.
With this operation, the company explains it “has already secured €2.3 billion of asset rotation proceeds within the context of the €8 billion Asset Rotation program announced in EDPR Capital Markets Day.”
This asset rotation will allow “EDPR to accelerate value creation while recycling capital to reinvest in accretive growth.”
This transaction also increases the overall asset rotation deal to an 80% equity stake, following the previous 68% announced on July 1 2021.