Ares Management Corp. recently announced that a fund managed by the Ares Infrastructure Opportunities strategy has acquired a 49 percent stake in a portfolio of assets from EDP Renováveis (EDPR), a global developer, owner and operator of renewable-energy infrastructure.
The total estimated enterprise value for 100 percent of the portfolio amounts to approximately $2.9 billion.
The transaction is composed of a diversified portfolio of 10 assets that aggregates to 1,632 megawatts of capacity, including 1,030 megawatts of solar, 402 megawatts of wind and 200 megawatts of storage capacity across four U.S. power markets. All projects have long-term power-purchase agreements, with an average remaining contract duration of 18 years.
“We value the opportunity to partner with Ares on this transaction, which reflects the strength of our platform and the disciplined growth of our business,” said Sandhya Ganapathy, CEO of EDP Renewables North America. “This collabora
