King & Wood Mallesons ("KWM") has advised EDP Renováveis ("EDPR") on the sale of the 100% stake of a 181 MW wind energy portfolio. The transaction, valued at €328 million, comprises 12 wind farms in Spain which are under the Spanish 20-year regulated remuneration scheme. The average age of the portfolio is 12 years.
Roberto Pomares, partner of M&A, has been in charge of leading the multidisciplinary team that has advised EDPR in this deal with the assistance of senior associate Victoria Ruenes and the associates Rosa Chen and Elena Torrecillas. Other professionals who have participated in this project are the senior associates Alberto Artés (Energy), Sandra de Andrés (Employment) and Pablo Salamanca (Real Estate).
With the conclusion of this transaction, EDPR achieves €2.4 billion of Asset Rotation proceeds within the context of the €8 billion Asset Rotation Program for 2021-25 announced in EDPR Capital Markets Day.
Over the last 20 years, KWM has been advising EDP Group on its main transactions in the Iberian market. KWM recently advised the Portuguese company on the acquisition of Viesgo and on the set up of Ocean Winds, the joint venture between EDPR and ENGIE for the development of offshore wind energy projects.