EDP-Energias — M&A Activity 2018

Dec 14, 2018

Investors & Analysts` Briefing

Reuters: EDPR.LS Bloomberg: EDPR PL

EDPR joint venture is awarded with exclusive rights to develop wind offshore project in Massachusetts

Madrid, December 14th , 2018: EDP Renováveis, S.A. ("EDPR") is pleased to announce that Mayflower Wind Energy LLC ("Mayflower"), a joint venture company currently owned by EDPR Offshore North America LLC (50%) and Shell New Energies US LLC ("Shell") (50%), is the provisional winner of block 0521 in today's offshore wind auction hosted by the Bureau of Ocean Energy Management ("BOEM"). Mayflower bid \$135m for the exclusive rights to develop the federal commercial wind energy lease on the Outer Continental Shelf ("OCS"), located off the coast of Massachusetts.

Once constructed, the lease area could accommodate a total generation capacity of approximately 1.6 GW, enough to power more than 680,000 average Massachusetts homes with clean energy each year.

Mayflower will begin working to complete a site assessment plan and initiate formal development efforts on the site to bring the wind farm into operation by the mid-2020s.

With today's announcement EDPR increases its growth options in wind offshore in an attractive market, thereby enhancing and diversifying the company's long term profitable growth options while maintaining a balanced risk profile.

EDP Renováveis, S.A.

Investor Relations Department Rui Antunes, Head of IR Maria Fontes Pia Domecq Duarte Andrada

Phone +34 902 830 700 Fax +34 914 238 429 www.edpr.com