EDPR concludes EUR-1.5bn capital hike

EDPR solar PV park

April 19 (Renewables Now) - Portuguese utility EDP (ELI:EDP) announced on Friday that its renewables unit has successfully carried out a EUR-1.5-billion (USD 1.8bn) capital increase to partially bankroll its spending plans.

The EUR-1.5-billion transaction is part of a EUR-19-billion investment plan to develop around 20 GW of new renewable energy projects by 2025.

EDP said that the 88.25 million new shares issued by EDP Renovaveis SA (ELI:EDPR) at a price of EUR 17 per share were fully subscribed by banks Citigroup Global Markets Europe AG and Morgan Stanley Europe SE.

The new shares were admitted to trading on the Euronext Lisbon regulated market on April 16, 2021.

EDP continues to hold roughly 720.19 million shares in EDPR, equal to a 74.98% stake, on a fully diluted basis.

(EUR 1.0 = USD 1.209)

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