Portuguese renewable energy company EDP Renovaveis SA, known as EDP Renewables, has entered into an agreement to sell an 80% stake in a 340-MW solar portfolio in the United States to an undisclosed buyer. The solar portfolio comprises three operational solar farms, two located in Ohio and one in Texas.
EDPR revealed on Thursday that the enterprise value for the 80% stake amounts to approximately USD 400 million (EUR 365.2 million). The buyer, described as a “major energy global player,” remains unnamed.
The transaction is contingent on regulatory clearance and is part of EDPR's EUR 7 billion (USD 7.78 billion) asset rotation program for the 2023-2026 period.
With this deal, the company has successfully executed and secured over 25% of its asset rotation goal. The move aligns with broader industry trends as renewable energy companies strategically optimize their portfolios to enhance operational efficiency and support future growth initiatives.