Lisbon, July 15, 2020: EDP – Energias de Portugal S.A. (“EDP”) has entered into a definitive agreement with certain funds managed by Macquarie Infrastructure and Real Assets (Europe) Limited (together with its managed funds, “MIRA”), for the acquisition of Viesgo, and the establishment of a long-term electricity distribution partnership with MIRA in Spain.

Under the terms of the agreement, EDP‘s Spanish electricity distribution subsidiary, ERedes, and Viesgo‘s electricity distribution units, Viesgo Distribución and Begasa, with a total RAB of €1.8 billion (post-Lesividad) and EBITDA of €320 million as of 31 December 2019, will be owned 75.1% by EDP and 24.9% by MIRA. Also, as part of the transaction, EDP will, through its 82.6%-owned subsidiary EDP Renováveis, S.A. (“EDPR”), acquire 100% of the renewables business of Viesgo, which comprises 24 wind farms and two mini hydro power plants located throughout Spain and Portugal representing a total of over 500 MW of installed net capacity, for an Enterprise value of €565 million.

EDP will also acquire Viesgo’s two thermal generation plants in the south of Spain, which carry potential interconnection rights under the European Union’s “Green Deal Investment Plan and Just Transition Mechanism” following completion of their decommissioning.

EDP – Energias de Portugal. S.A.