EDP Renováveis to sell solar portfolio in Spain

EDP Renováveis has signed a Purchase and Sale Agreement with Prosolia Energy for the sale of a 100% shareholding in a 190 MWac (229 MWdc) solar portfolio in Spain, for an estimated Enterprise Value of €160 million.

The portfolio in question includes five solar power plants in operation located in the regions of Andalusia and Castile and León, with an average asset life of less than one year.

These projects benefit from long-term Power Purchase Agreements (PPAs).

The completion of the transaction is subject to regulatory and suspensive conditions common for a transaction of this nature, but should be concluded in 2025.

From this transaction EDPR will net approximately €800 million from a total of €2Bn it stands to gain in revenues from asset rotations in 2025.