EDPR sells stake in Offshore France

edpr announcement

EDPR sells stake in Offshore France

Tuesday 18, December 2018

Madrid, December 18th, 2018: EDP Renováveis S.A. (“EDPR”) announces the sale of a 13.5% equity stake in both Yeu-Noirmoutier and Dieppe-Le Tréport french offshore wind projects to SRPN SAS and SRPT SAS, two companies owned by Sumitomo Corporation (“Sumitomo”). Sumitomo is a Japanese industrial group positioned in the wind energy sector in Japan, Europe, United-States, South-Africa and China.

As part of this transaction, EDPR reduces its shareholding to 29.5% in both projects in exchange of a €42.8m payment upfront, which can increase over time as predefined conditions are met.

Yeu-Noirmoutier and Dieppe-Le Tréport offshore wind farms projects have an expected capacity of 496 MW each and were selected, in April 2014, by the French Government to be developed, constructed and operated. Currently under development both projects are expected to reach commercial operating date over the first half of next decade. 

 

EDP Renováveis, S.A.