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    EDP   PTEDP0AM0009

EDP - ENERGIAS DE PORTUGAL, S.A.

(EDP)
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EDP Energias de Portugal S A : Portugal's EDP agrees to buy UK onshore wind and solar portfolio

07/21/2021 | 07:15am EDT
FILE PHOTO: The logo of Portuguese utility company EDP is seen at the company's offices in Oviedo

LONDON (Reuters) - Power company Energias de Portugal has agreed to buy a 544 megawatt (MW) onshore wind and solar portfolio in Britain through its subsidiary EDP Renovaveis, the Portuguese firm said on Wednesday.

The deal was done through two separate agreements with renewables developers Vento Ludens and Wind2 for a total amount of up to 71 million pounds ($97 million), it said.

The portfolio consists of a 5 MW operating wind farm, 192 MW of wind projects in an advanced stage of development which will participate in the upcoming UK contracts-for-difference (CfD) auctions and 347 MW of wind and solar projects under development.

Under the CfD scheme, the UK government guarantees qualifying projects a minimum price at which they can sell electricity, with renewable power generators bidding for CfD contracts in a round of auctions.

The British government has said that from 2021 onwards both onshore wind and solar will be able to participate in the CfD rounds, which are expected to occur every two years until 2030, EDP said.

"This transaction allows EDPR to establish its presence in the UK onshore market with a sizeable and technologically diversified portfolio at different stages of development," the company added in a statement.

EDPR has 1 gigawatt of offshore wind capacity under construction and 0.9 GW under development in Britain.

($1 = 0.7338 pounds)

(Reporting by Nina Chestney;Editing by Elaine Hardcastle)

By Nina Chestney


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EDP - ENERGIAS DE PORTUGAL, S.A. 0.98% 4.53 Real-time Quote.-12.14%
EDP RENOVÁVEIS, S.A. 3.84% 22.2 Real-time Quote.-2.63%
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Analyst Recommendations on EDP - ENERGIAS DE PORTUGAL, S.A.
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Financials
Sales 2021 12 789 M 14 989 M 14 989 M
Net income 2021 850 M 996 M 996 M
Net Debt 2021 12 345 M 14 468 M 14 468 M
P/E ratio 2021 20,9x
Yield 2021 4,26%
Capitalization 17 878 M 20 950 M 20 953 M
EV / Sales 2021 2,36x
EV / Sales 2022 2,27x
Nbr of Employees 12 124
Free-Float 67,6%
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EDP - Energias de Portugal, S.A. Technical Analysis Chart | EDP | PTEDP0AM0009 | MarketScreener
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Mean consensus BUY
Number of Analysts 22
Last Close Price 4,53 €
Average target price 5,71 €
Spread / Average Target 26,1%
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Managers and Directors
Miguel Stilwell de Andrade Chief Executive Officer, CFO & Executive Director
LuÝs Filipe Marques Amado Chairman-Supervisory Board
Rita Sousa Head-Compliance
Maria Celeste Ferreira Lopes Cardona Member-Supervisory Board
Fernando Maria Masaveu Herrero Member-Supervisory Board
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