Publications

EDP Renováveis seeks to invest €20b into renewables deployment by 2026
Investors - MARCH 6, 2023

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

EDP Renováveis seeks to invest €20b into renewables deployment by 2026

by Kali Persall

EDP Renováveis (EDPR) has unveiled plans to invest €20 billion ($22 billion) to deploy 17 gigawatts of renewables until 2026.

To partially finance the updated investment plan, EDPR intends to raise equity through the increase of share capital, the company disclosed. On March 1, EDPR entered into an investment agreement with Lisson Grove Investment, an affiliate of GIC, which committed to subscribe about €1 billion ($1.06 billion) to shares in EDPR.

Under the investment agreement, EDPR has the option to reallocate a portion of that amount to a selected number of institutional investors at the same price agreed with GIC. The commitment by GIC is subject to EDPR’s decision to launch the transaction at an appropriate time, depending on market conditions.

Forgot your username or password?