1 minute read | August.20.2026
EDP Renewables S.A. (EDPR) agreed to sell an 80% common equity stake in a 384 MW U.S. solar and storage portfolio to an Ares Infrastructure Equity fund.
Orrick advised EDPR on the transaction.
EDPR is a global leader in renewable energy development with a presence in North America, Europe, South America and Asia Pacific. The company manages a portfolio of onshore wind, distributed and large-scale solar, offshore wind, hybridization, storage and green hydrogen projects.
The portfolio includes 200 MW of solar and 184 MW Battery Energy Storage System (BESS) in California. The solar capacity is contracted through a 20-year long-term Power Purchase Agreement (PPA). The storage capacity has a 20-year Capacity Tolling Agreement.
The portfolio was EDPR’s first Final Investment Decision in the U.S. following the signing into law of the “One Big Beautiful Bill” Act on July 4, 2025. The project will continue to contribute to meeting the region’s rapidly growing power demand.
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