King & Wood Mallesons ("KWM") has advised EDP Renováveis ("EDPR") on the sale to VERBUND Green Power GmbH ("VERBUND") of 100% of the shares of Viesgo Renovables and Viesgo Europa, companies holding a 257 MW wind energy portfolio in Spain. The transaction, valued at 460 million euros, comprises the transfer of 9 operating wind farms with an average age of 14 years and with the potential for repowering and additional hybrid solar capacity.

Roberto Pomares, partner of M&A at KWM Spain, has been in charge of leading the multidisciplinary team that has advised EDPR in this deal, with the assistance of senior associate Enrique Murillo and associate Alejandra Martín.

This transaction comes in the context of the €7 billion asset rotation program for 2023-26 announced in EDPR's Capital Markets Day in March 2023, allowing EDPR to accelerate value creation while recycling capital to reinvest in accretive growth.

Over the last 20 years, KWM has been advising EDP Group on its main transactions in the Iberian market. In 2020 KWM advised the Portuguese energy group on the acquisition of Viesgo and on the set up of Ocean Winds. Last year, the team led by Roberto Pomares advised EDPR on the sale of a portfolio of 181 MW of wind energy in Spain to China Three Gorges

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