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EDP-Energias M&A Activity 2018

Nov 14, 2018

1909_iss_2018-11-14_4c91ea78-3518-4e45-8af1-47a703e703b3.pdf

M&A Activity

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Investors & Analysts' Briefing

Reuters: EDP.LS Bloomberg: EDP PL

EDPR announces sale of additional 13.4% in UK wind offshore project

Lisbon, November 14th , 2018: Pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities code, EDP - Energias de Portugal, S.A. ("EDP") is providing the following information to the market:

EDP Renováveis, S.A. ("EDPR"), 82.6% controlled by EDP, announced today that its subsidiary, EDPR UK Limited ("EDPR UK"), has closed the sale of a 13.4% stake in equity shareholding and outstanding shareholder loans on Moray Offshore Windfarm (East) Limited ("MOWEL"), to Diamond Generating Europe Limited ("DGE"), for a total sum of £54 million.

This sale follows the initial 20% sale announced on March 23rd 2018 and the agreement on the sale of an additional 13.4% stake.

With the completion of this transaction, the EDPR stake in MOWEL is 43.3%, along with DGE (33.4%) and ENGIE (23.3%).

In September 2017, MOWEL was awarded a 15-year Contract for Difference (CfD) by the UK's Department for Business, Energy & Industrial Strategy ("BEIS") for the delivery of 950 MW of offshore wind generation at £57.5/MWh (2012 tariff-based). MOWEL is expected to be completed by 2022.

Investor Relations Department

Miguel Viana, Head of IR Sónia Pimpão Maria João Matias Sérgio Tavares Carolina Teixeira