49% equity stake in 1,632 MW diversified US portfolio — 1,030 MW solar + 402 MW wind + 200 MW storage, 10 assets, 4 power markets
Ares acquires 49% of EDPR's 1,632 MW US portfolio (solar, wind, storage) in 4 power markets. $2.9B enterprise value. 5 operating + 5 under construction. 18-year avg PPA life. Brings Ares total power generation interests to ~5.7 GW across 11 states since Sept 2024. $565M backleveraged facility from SocGen/Natixis.
$800M
Deal Value
1,632MW
Capacity
Solar + Storage
Technology
Multi-state
Location
Deal Details
- Deal Type
- Project & Portfolio M&A
- Seller / Sponsor
- EDP Renewables (EDPR)
- Buyer / Financier
- Ares Management (Infrastructure Opportunities)
- Deal Value
- ~$800M proceeds (~$2.9B enterprise value for 100%)
- Stage
- Mixed (Operating + Construction)
- ISO/RTO
- Multiple
- Source
- Business Wire
Capital Structure
$800M
Total transaction value
Service Providers
Advisory & Legal
- Buyer Counsel
- Kirkland & Ellis
- Seller Counsel
- Orrick
Finance Counterparties
Lenders & Capital Providers
- backleverage
- Societe Generale, Natixis
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