EDP successfully establishes new institutional partnership structure for 405 MW
EDP successfully establishes new institutional partnership structure for 405 MW in the US
EDP – Energias de Portugal, S.A. (“EDP”), through its 82.6% owned subsidiary EDP Renováveis, S.A. (“EDPR”), has secured the commitment for $421 million of institutional equity financing from Bank of America, in exchange for an interest in a 405 MW wind onshore portfolio. The projects are located in the state of Illinois and have previously secured long-term sales agreements.
Under the agreement, funding will take place close to the start of operations of each project, which is scheduled for the fourth quarter of 2019 and first quarter of 2020. The institutional partnership structure established enables an efficient utilization of the fiscal benefits to be generated by the project.
This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities code.
EDP – Energias de Portugal, S.A.