Madrid, 02 September 2020: EDP Renewables, SA («EDPR»), a global leader in the renewable energy sector and one of the largest wind energy producers in the world, has signed a Sale and Purchase Agreement with Connor, Clark & Lunn Infrastructure, to sell an 80% equity shareholding in a wind and solar portfolio located in the United States with 563 MW (450 MW net), comprising four winds farms in operation and one pre-COD solar asset, namely:

• Meadow Lake V of 100 MW, located in Indiana and in operation since 2017;
• Quilt Block of 98 MW, located in Wisconsin and in operation since 2017;
• Redbed Plains of 99 MW, located in Oklahoma and in operation since 2017;
• Hog Creek of 66 MW, located in Ohio and in operation since 2017;
• Riverstart Solar of 200 MW, located in Indiana and with start of operationsexpected in 2021

The total consideration of the transaction corresponds to an Enterprise Value of $676 million (for the 80% stake), which translates to an implied enterprise value multiple of $1.5 million/MW. The transaction is subject to regulatory and other precedent conditions and 363 MW are expected to be completed in the 4Q20 while 200 MW (Riverstart solar project) are expected to be completed in 2021.

With the transaction announced today, EDPR already executed >55% of the €4 billion target proceeds for 2019-22, as announced in the Strategic update of March 12th 2019. The sale of majority stakes in projects in operation or under development, allows EDPR to accelerate value creation, while recycling capital to reinvest in accretive growth.