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EDP Renováveis establishes a MoU with EDP Brasil for the acquisition of a 45% stake in EDP Renováveis Brasil

EDP Renováveis establishes a MoU with EDP Brasil for the acquisition of a 45% stake in EDP Renováveis Brasil

EDP Renováveis establishes a MoU with EDP Brasil for the acquisition of a 45% stake in EDP Renováveis Brasil

Madrid, November 27th 2014: EDP Renováveis, S.A. (“EDPR”) and EDP Energias do Brasil, S.A. (“EDP Brasil”) have signed a Memorandum of Understanding (“MoU”) envisaging the acquisition by EDPR of 45% of the share capital of EDP Renováveis Brasil, S.A. (“EDPR Brasil”) controlled by EDP Brasil.

Following this transaction EDPR will control 100% of the share capital of EDPR Brasil. The purchase price to be paid will be agreed between the parties in consideration of the value attributed to EDPR Brasil and its subsidiaries and certified by a fairness opinion issued by a renowned financial institution.

Completion of this transaction is subject to regulatory approval and other customary closing conditions, and is expected to occur until the end of the first half of 2015.

EDPR Brasil currently operates 84 MW of wind energy and has in execution 236 MW of wind energy projects with long-term power purchase agreements (“PPAs”) awarded in the 2011 and 2013 energy auctions. EDPR presence in Brazil provides exposure to a market with a low risk profile through the establishment of long term PPAs, attractive wind resource and strong prospects for the wind sector in the medium and long term.

EDP Renováveis, S.A.

EDPR Brasil_EN